The success story of the iPhone, once underestimated, is now a mandatory item for Gen Z

Jakarta, CNBC Indonesia – Nowadays, the sight of people holding iPhones with boba cameras has probably become commonplace. In fact, this device seems to be an item that must be used by many Gen Z.

However, it took 17 years for the iPhone to be where it is now. Back in 2007, when the first iPhone was launched, many people were unsure about its future.

“The initial data from the first few days of sales coming out of AT&T was disappointing. I remember talking to investors after that first weekend, and according to one investor, the product was generally dead on arrival,” said Gene Munster of Deepwater Asset, quoted from CNBC InternationalMonday (29/1/2024).

Its sales were even far from the Nokia 3310. At that time, it was said that Nokia would never be defeated.

The 2007 iPhone only sold 1.4 million units with 80% of sales occurring in the 4th quarter. Meanwhile, the iconic cellphone from Nokia sold 7.4 million units in the same period.

It only took a year for Apple to rise. In 2008, the company launched the App Store app store and sparked a new wave of other app-based technology companies such as Uber.

“Other phone manufacturers didn't expect that to happen,” Munster said.

Marc Weber of the Computer History Museum said the iPhone set the standard for future cellphones. His innovation inspired Android, which also founded the Play Store application store.

From only selling 1 million units per quarter, iPhone sales are slowly starting to increase. About 72 million units were sold in 2011, more than 50 million units thanks to the iPhone 4s.

Next, in 2015, Apple managed to sell 200 million iPhone units. A decade after the launch of the first iPhone, Apple became the first US public company with a market capitalization of US$1 trillion.

Nearly two decades later, Apple has launched 42 iPhone models to date. Research from Demand Sage says the company sold more than 2.3 billion units with more than 1.5 billion active users.

[Gambas:Video CNBC]

Next Article

Apple admits that the iPhone 15 is not selling as well as expected