IPhone hits another milestone
A little more than nine years after it made its debut in the United States in June 2007, Apple announced that it recently sold its one billionth iPhone.
Having generated more than $600 bln in revenue and in all likelihood more than $100 bln in net profit for Apple, the iPhone might well be the most profitable piece of technology to ever have hit the market. It has transformed Apple from a company with $19 bln in annual sales (in 2006) to the most valuable company in the world, raking in $234 bln in the fiscal year that ended in September 2015.
However, every fairytale must eventually come to an end and so does the iPhone’s remarkable growth story. Between April and June, iPhone sales declined for the second consecutive quarter and, if Apple revenue guidance is any indication, will continue to do so in the ongoing quarter. With the smartphone market maturing and many low-cost alternatives flooding emerging markets, it will be interesting to see if Apple can reinvigorate sales or if we are already past peak iPhone. (Source: Statista)