Apple marked the 10 year anniversary of the iPhone debut, noting sales of more than 1 billion units, stating the device “quickly grew into a revolutionary platform for hardware, software and services integration”.
The company also said the iPhone “inspired new products, including iPad and Apple Watch, along with millions of apps that have become essential to people’s daily lives”.
While the achievements of Apple in defining what a modern smartphone is should not be underestimated, the company now faces challenges in driving new growth. Indeed, in its most recent quarter iPhone revenue declined, although Apple did face challenges in terms of supply following the introduction of iPhone 7.
With major developed markets seeing little (if any) growth in smartphone sales, the opportunities for future increases now lie in more price-sensitive emerging markets, which is not traditionally Apple’s strong suit.
According to recent reports, Apple is considering assembling iPhones in India to avoid taxes levied on products imported from overseas, making devices more affordable in an important potential growth market.
Of course, Apple continues to benefit from a large and loyal installed base with Tim Cook, Apple’s CEO, promising “the best is yet to come”. Indeed, long running speculation suggests the company is readying significant changes for the tenth anniversary iPhone, building on the largely incremental updates which have marked recent years.