– Apple recently sold its billionth iPhone, the company announced on Wednesday, July 28, according to The Verge. This was at the Company’s headquarters in California.
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“IPhone has become one of the most important, world-changing and successful products in history”, he said in a statement. Comparatively weak iPhone sales were offset by an uptick in the iPad’s growth; Cook said more people are purchasing those for work.
As always with patents, we’ll remind you that not everything that gets patented is turned into commercial products. What’s also impressive is that this happened about two years after Apple sold its 500 millionth iPhone. Revenue attributed to iPhone sales joined in the slide, dropping 23 percent year over year to just over $24 billion.
Development of the first iPhone began twelve years ago and the phone made its first appearance on January 2007. “In absolute terms or year to date iPhone sales, switchers are the greatest we have seen in any nine month period”, he added.
Apple, which gets more than half its revenue from the iPhone, has felt the impact of a cooling global smartphone market particularly keenly.
Apple has reported a 15% drop in its sales which translates to the company’s second consecutive quarter of falling iPhone sales. They also said Apple couldn’t succeed because breaking into the smartphone market was hard at best. Other than going back to a smaller size, the iPhone SE offered a little in the name of upgrade.
IBM shares reached a 52-week high following the earnings report, as the results beat estimates.
The company is expected to launch its new iPhones in September and there may be three new models in the range this year. These services on the other hand serve as a bright spot in this time of iPhone sale drop crisis, as Apple can make more money from its existing Apple subscribes using these schemes.
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Tapering profitability may not extend beyond the fourth quarter, when Apple will unveil a new iteration of the iPhone, tentatively dubbed iPhone 7.
