Apple has sold more than 1 billion iPhones

Apple CEO Tim Cook during an employee meeting at Apple's Cupertino headquarters, announced that the company has sold more than 1 billion iPhones globally. The billionth sale occurred sometime last week and it took Apple nine years to reach the milestone.

"iPhone has become one of the most important, world-changing and successful products in history. It’s become more than a constant companion. iPhone is truly an essential part of our daily life and enables much of what we do throughout the day. Last week we passed another major milestone when we sold the billionth iPhone. We never set out to make the most, but we’ve always set out to make the best products that make a difference. Thank you to everyone at Apple for helping change the world every day." Cook said in a statement.

Apple's first iPhone saw the light of the day in June 2007, and has so far released 13 iPhones. The latest iPhone, the compact 4-inch iPhone SE was introduced earlier this year in March.

Apple yesterday at its Q3 FY 2016 earnings call revealed that it sold 40.4 million iPhone, down 14.9 percent compared to 47.5 million units sold in the same quarter last year.

Even though sales declines world-wide, iPhone sales in India were up 51 percent as compared to last year, and Apple considers India to be its fastest growing markets. To boost sales further, Apple will soon set up exclusive retail stores across the country.

The company is also all set to unveil the 2016 iteration of iPhones at its fall event in September. Just like last two years' Apple will release two iPhone models this year as well. If reports are to believed, the 2016 iPhone models will not be called iPhone 7 and iPhone 7 Plus, instead will have a different name, and the number 7 is reserved for 2017 iPhone models.

The 2016 iPhone models will arrive in 4.7-inch and 5.5-inch variants, and will offer fast processor, 32GB base storage variants, improved camera, lack 3.5mm headphone jack and have repositioned antenna lines. The 5.5-inch or the Plus model will sport smart connector to connect accessories, and have dual rear camera setup.