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Apple Hits 1 Billion iPhones Sold


Apple Hits 1 Billion iPhones Sold

Apple CEO, Tim Cook, announced at an employee meeting on Wednesday that the company sold its billionth iPhone sometime last week.


"Last week we passed another major milestone when we sold the billionth iPhone," Cook said. "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 comes just a day after Apple announced another year-on-year contraction in iPhone sales, while still posting $42.4 billion in revenue and quarterly net income of $7.8 billion, better than expected on Wall Street.


Late Apple cofounder Steve Jobs debuted the first iPhone in 2007. At launch, the unassuming candybar smartphone was touted as a communication device, mobile web browser and iPod — then Apple's highest earning product — wrapped up in a single device. Since then, iPhone has improved through nine iterations and four major redesigns to become one of best-selling handsets on the market. Not coincidentally, the device now accounts for a lion's share of Apple's profits.

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