The iPhone is 10. Its streak is in danger
The iPhone has come a long way since it debuted in 2007 as a no-keyboard, AT&T only and (for the time) expensive phone option.
According to company data from 2016:
- The billionth iPhone was sold last July.
- Apple has more than 2 million apps available, and they have been downloaded more than 140 billion times.
- The apps have paid out around $50 billion in revenue to developers.
- Apple music has over 17 million subscribers and has posted more than 30 million songs.
That era is in danger: In December, the Nikkei Asian Review reported that Apple slashed iPhone 6 production due to accumulated inventory, and lowered production of the new iPhone 7 by 20%. Apple will trim iPhone sales by 10% in the first quarter of 2017, according to Nikkei.
What's next: As iPhone growth slows, Apple knows it needs to keep innovating to stay relevant — such as with artificial intelligence — where rivals Amazon and Google are making big strides.