CEO Tim Cook announced that Apple recently sold the billionth iPhone. Even though worldwide iPhone sales have crossed a billion since launch, sales continue to fall. In the last quarter Apple sold only 40.4 million iPhones, down 14.9% compared to the 47.5 million units it sold in the same quarter last year.
Apple has released 13 different iPhone models since it released the first iPhone in 2007. It is expected to release the next-generation iPhone in September.
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