The company has already started diversification of its product lines, moving into other services that can bring in more steady revenue.
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But the public did more than take a spoonful, they wolfed it down in spades and over the nine years since, Apple has shifted a billion of the handheld devices, making it enormous profits in return.
Apple CEO Tim Cook has revealed that the company has sold its billionth iPhone.
In its quarterly update, Apple said profits slumped 27 per cent from a year ago to Dollars 7.8 billion on a sharp drop in iPhone sales. “Thank you to everyone at Apple for helping change the world every day”, he added.
The iPhone sales constitute two-thirds of the Apple’s sales and as well as its profits with the Greater China (China, Hong Kong and Taiwan) accounting for a quarter of Apple’s sales. “I see the smartphone itself, led by iPhone, becoming even more instrumental and important to people’s lives”, Cook said. Tim Cook, the company’s CEO in an employee meeting announced that Apple recently sold the billionth iPhone.
iPhone Se is popular both in developed and emerging markets.
Apple made the milestone announcement just a day after releasing its fiscal Q3 of 2016 earnings results, which saw iPhone sales decline by 15 percent year-over-year.
Mr. Cook told investors numerous quarter’s new iPhone owners switched from cometing smartphones running Google’s Android platform.
Rumours suggest that the company is planning a major revamp in design for the scheduled launch of a new iPhone in 2017.
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The fall in the growth is especially significant, as Apple has created its entire business around its iPhones, but there might not be continued growth in the sales. When the iPhone 6 was released in 2014, Apple sold almost 75 million phones over the holiday quarter. Apple sold 40.4 million iPhones during the quarter, along with 9.9 million iPads, and 4.2 million Macs. The demand-supply balance for the handset was reached by Apple this month, only after bringing on more manufacturing capacity.
