"Its impact is huge", Tuong Nguyen, principal research analyst at Gartner told NBC News.
Debuting as one of the slimmest smart mobiles on the market at the time, the iPhone featured a 3.5-inch touchscreen, two mega-pixel camera and a battery life which allowed for five hours of talk time, video and browsing, and 16 hours of audio playback.
The forthcoming (June 29) release of the Apple iPhone is going to be a bigger marketing flop than Ishtar and Waterworld (dating myself again, aren't I) combined. The upper bezel has been kept thicker to accommodate the front-facing camera module along with the necessary sensors. Google famously rebuilt its first Android phone from the ground up after Apple's keynote. Whether you have one or not, it has changed the way we live. The headline of that piece, "iPhone: A Menace to Moto?" shows how investors generally viewed the matter, what they were concerned with at the time. The handset was unveiled as the thinnest smartphone in the world and at the same time was the first device from Apple to get a Retina Display. New designs alternating with new hardware and extra features. The company is also working to embed Touch ID fingerprint recognition technology into the display, though recent rumors claim engineers are as yet undecided on a final solution. The year 2017 marks the tenth anniversary of Apple iPhones. "That is pretty significant", he said. Now, anyone with coding skills has a chance to make create apps - and reap the rewards.
That app economy has of course spawned ideas that have changed other industries.
Beyond the USA, cheaper smartphone models have outperformed the iPhone thus far, but Purohit said he expects to see that change.
And don't forget about the app economy, the burgeoning market that's slated to become a $6.3 trillion industry in just four years.
When AAPL released the iPhone in 2007, the company helped kick off a smartphone revolution. Even though the phone was not much different than its predecessor, it still did not stop Apple fans from buying it.
Based on the tips from Steve Hemmerstoffer and Tiger Mobiles, a Youtube channel named SuperSaf TV has posted a video of the iPhone 8 prototype, giving a fair idea of how the much-awaited smartphone will look like. His model has Apple earning $13.20 a share on $292 billion in revenue in fiscal 2022, comfortably ahead of the $8.74-per-share profit on $221 billion in revenue that he's targeting for this year.
So for all its accomplishments, the iPhone still has room to grow.
Smartphone adoption has leaped from 2 percent in the U.S.to 83 percent in just 10 years.