Within 9 years, 1 billion iPhones have been sold

folarin okunola

August 1, 2016 8:15 AM

Introduced in 2007, the iPhone has not only changed the meaning of what a great smartphone should be, it also revolutionized the science of user experience and customer retention.

Tim Cook is CEO of Apple Inc.

In todays world, competition in tech and business is abundant. Companies spend tons of money trying to outsmart the competition as the fight for market share and revenue continues to drive innovation and expansion.

One of the companies that has done well to gain - and maintain - its top position at the top of the business pyramid is Apple.

From a company founded by Steve Jobs, Ronald Wayne and Steve Wozniak in a small garage office, the Cupertino-based tech giant is now the most valuable company in the world.

One of its products that has pushed it to that position is the iPhone. Introduced in 2007, the iPhone has not only changed the meaning of what a great smartphone should be, it also revolutionized the science of user experience and customer retention.

A testament to this fact is that Apple recently sold its billionth iPhone. Within just nine years, Apple managed to sell one billion iPhones despite the fact that most of its competitors offer cheaper products and similar value.

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Apple CEO Tim Cook made the announcement at an employee meeting last week at the company's Cupertino headquarters.

In his words, "iPhone has become one of the most important, world-changing and successful products in history. It's become more than a constant companion. iPhone is truly an essential part of our daily life and enables much of what we do throughout the day," said Cook. “Last week we passed another major milestone when we sold the billionth iPhone. We never set out to make the most, but we’ve always set out to make the best products that make a difference. Thank you to everyone at Apple for helping change the world every day."

The announcement was made after the tech giant's earnings for the third quarter, one which it sold 40.4 million iPhones and generated $42.36 billion in sales.

All of this just goes to show that since the introduction of the original iPhone on June 29, 2007, the iPhone has proven to effectively position itself as one of the most important and successful products human history has ever experienced.

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