With the release of the next iPhone rapidly approaching, Apple has reason to celebrate as it sold its 1 billionth iPhone just last week.
During an employee meeting, Apple CEO Tim Cook made the announcement. He described the iPhone as an essential part of daily life. He went on to say that iPhone "has become one of the most important, world-changing and successful products in history."
Despite this milestone, Apple needs to be cautious in its optimism. iPhone sales have started to stall and it's even being reported that the lower-cost SE models are gaining more traction with customers than the premium models. Apple will be hoping that the next iPhone in the series can strike a chord with people once more.
Apple is expected to announce the next iPhone in September.