Apple Inc celebrates sale of one billionth iPhone  

New York: Apple has reached a key milestone when it comes to its flagship mobile phone sales. The drop in iPhone sales globally didn’t stop the technology major from selling its one billionth iPhone last week. Apple’s CEO Tim Cook on Wednesday announced the milestone during a special employee meeting in Cupertino. Cook has thanked employees for ‘helping change the world every day,’ noting that “Apple has always set out to make the best products that make a difference.”

The billionth iPhone was sold about two years after Apple sold its 500 millionth iPhone. That’s a lot of units, and with the impending launch of additional phones to its line, it’s likely to sell a whole lot more in the future.

Apple Inc has reached the milestone of its billionth iPhone in July as against the expectations that it could be achieved by the end of this month. Given the monthly sales rate at which Apple has been selling iPhones, it may, if has not already, sell its one-billionth iPhone by the end of this month. However, Apple suffered sales drop for the second consecutive quarter this year.

The billionth iPhone was sold about two years after Apple sold its 500 millionth iPhone. Apple Inc sold 40 million iPhones during the third quarter or 13 million a month. That brings the total to one billion sold since the gadget was first launched in 2007.

Apple Inc sold 40 million iPhones during the third quarter or 13 million a month. That brings the total to one billion sold since the gadget was first launched in 2007. Few, if any, device lines have ever been so successful.

Apple has recorded sales of $42.4 billion for the quarter that ended in June down from $49.6 billion a year earlier, according to the earnings report. The company’s profits also fell by more than 25 percent from the same period a year earlier. This marks the second straight quarter where Apple’s sales have declined year-over-year as iPhone sales peter out.

Apple Inc attributes the reason for drop in sales volume to saturating markets in North America and Europe along with fast-growing Asian markets like China. It’s becoming harder for large technology players to differentiate themselves significantly from one another.

Sales of the iPhone fell to 40.4 million units, down from 48 million a year earlier. On the bright side, Apple’s sales declined less than what analysts’ forecast in a survey carried out by the Wall Street Journal (WSJ).

Apple Inc attributes the reason for drop in sales volume to saturating markets in North America and Europe along with fast-growing Asian markets like China. It’s becoming harder for large technology players to differentiate themselves significantly from one another.

The so-called innovation cycle is speeding up, making it more difficult for market leaders to create home-grown software and hardware that’s revolutionary.

The likes of Apple and Samsung need to become savvier about buying smaller, more-nimble companies whose technology they can integrate into their flagship products.