It was five years today that Apple first began selling the Apple iPhone. First introduced at the 2007 Macworld conference keynote, this was the day that customers could finally get their hands on the US$599 smartphone.
Since that fateful day, Apple has sold some 250 million iPhones and brought in about US$150 billion in revenues. Apple revolutionized the smartphone market, forcing its competitors to adapt quickly. While some have, many (including Nokia and RIM) are still struggling to return to former glory. Apple, for its part, has since established itself as one of the top smartphone manufacturers. In fact, it was still the top one in the U.S. in the first quarter of the year despite stiff competition from Samsung.
According to Neil Mawston, Executive Director at Strategy Analytics:
“The iPhone portfolio has become a huge generator of cash and profit for Apple. A quarter of a billion iPhones have been shipped cumulatively worldwide in the first five years since launch and Apple reaches its fifth birthday at the top of its game. However, there are emerging signs that the iPhone’s next five years could get tougher. Some mobile operators are becoming concerned about the high level of subsidies they spend on the iPhone, while Samsung is expanding its popular Galaxy portfolio and providing Apple with more credible competition.”
Five years in, Apple’s competitors have in many ways caught up. But Apple has demonstrated several times over that is one of the most innovative technology companies out there and it likely has a few more surprises in its bag of tricks. It should be an exciting five more years (and beyond).
Read more: Strategy Analytics