CEO Tim Cook says the company recently sold its billionth iPhone-a number the company hit just days before its third fiscal quarter earnings report.
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At an employee meeting in Cupertino today (27 July 2016) Apple CEO Tim Cook revealed that Apple has surpassed the crucial 1bn device milestone. “I see the smartphone itself, led by iPhone, becoming even more instrumental and important to people’s lives”, 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”, he added.
First released in 2007, iPhones have become the dominant source of revenue for Apple and transformed it into the world’s most valuable company. “In the first three quarters of this year, our iPhone sales in India were up 51% year-onyear”, Cook said in an investor call after the results. Though the iPhone 7 is rumored to not have radical changes from the device’s previous two iterations, Apple fans are expecting the smartphone to be one admirable device nonetheless. Now, only seven months later, the iPhone has topped the billion milestone.
Meanwhile, Apple’s chief financial officer Luca Maestri said the results had exceeded their expectations in a quarter marked by currency fluctuations and comparisons between iPhone’s latest model, the 6S, and the best-selling iPhone 6.
The company sold 40.4 million iPhones this quarter, compared to 47.5 million this time a year ago. It’s not long before we know if iPhone 7 can rekindle Apple’s business or not.
According to Samsung, it shipped about 90 million handsets in the April-June period with smartphones making up more than 80 per cent of the total, the Korea Herald reported.
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Apple has been seeking to diversify its product line and move into services for a more stable revenue base, while keeping users in its ecosystem with offerings such as music, connected cars and its Apple Watch.
