The iPhone decade: Helping to establish and destroy industries as well as changing our life

iPhone can be one of the first things we notice when the alarm has woken us up in the morning. It's typically the last thing we'll see after a long night when we go through a few emails or play games before drifting off to sleep. We don't know when the iPhone was a must in our lives; however, we're not the only ones. It's feasible to consider the last 10 years as an iPhone decade. It was when smartphones became mainstream, created billion-dollar companies, reorganized existing industries, and transformed the world. We're now on the road to learning about the development process at Apple.

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1. General information on Apple

You may be reading this on your iPhone at the present moment.

The iPhone was released for the first time in 2007. Still, at the beginning of the decade, it was an extremely exclusive product, restricted to a single wireless provider, and targeted the first to adopt the technology. It's now a huge issue. In the first quarter of calendar 2010, Apple had sold 8.7 million iPhones. In the first quarter of the year, Apple sold 47 million iPhones.

In January 2019, Apple said that it was at 900 million active iPhone users. Apple determines that a device is happening if it's been in contact through an Apple service within the last 90 days, an Apple spokesperson told The Verge. The data suggests that many iPhones that have ever been sold are in use, following Apple's definition. BNN Bloomberg reported last year that analysts thought Apple was close to achieving its 1.9 billion iPhone sales by the end of 2020. However, the company hasn't made a public announcement if it's reached that number. Apple hasn't been innovating with its iPhone as often as it used to.

Apple's iPhone units are eclipsed by the Google Android operating system which has sold millions of devices. However, as Apple's legal battles to the death with Samsung, which could be the most well-known tech lawsuit in the past decade, Google and its Android partners drew a significant amount of their ideas for Apple's iPhone.

The iPhone has also accelerated Apple. In the past 10-year period, Apple has gone from an enormous computer company with a lucrative business that dealt with MP3 players to a billion-dollar megacorporation that has operations across the globe with 137,000 employees full time.

It's, without doubt, the most influential consumer tech item in the last ten years," Loup Ventures founder and long-time Apple analyst Gene Munster said.

2. Replace everything that is in your pocket

The iPhone has become a fixture in our lives due to its replacement of numerous other gadgets.

I utilize my iPhone instead of a personal communications device with your notes and calendar. I don't use an alarm clock any longer. It has replaced GPS devices in cars. MP3 players. Flashlights!

"Fifteen decades ago, people were using this wireless telephone to initiate calls. Nowadays we utilize it for every other. The remote controls of our daily lives," wireless analyst Jeff Kagan stated.

Perhaps the most compelling illustration of the iPhone's transformative capability is what it did to cameras. About 121 million cameras for pocket cameras were sold in 2010 according to figures provided by the Camera & Imaging Products Association. However, in 2019, when complete data was available, just 15.2 million cameras with built-in lenses were sold.

Digital Camer Sales Dropped 87 Since 2010, Source: statista.com

The iPhone is also a factor in creating more industries than it has destroyed.

Ride-hailing services Lyft and Uber have a combined value of more than 60 billion dollars. Their existence is due to GPS's constant availability and wireless connectivity that became standard using the iPhone.

"You could go through each aspect of the phone and be reminded of billion-dollar corporations that have been built around the phone. It affects almost every aspect of our daily lives." Munster said.

"The camera and Instagram. Location is everything from maps, such as Waze to ads in Google Maps, to food delivery such as Grubhub. NFC has allowed mobile banking and will transform the banking business. Content consumption is now video consumption. YouTube isn't YouTube today sans having an iPhone," he said.

Apple developers grow App Store ecosystem, Source: Proviewsapp

Apple recently announced that its App Store ecosystem produced a total of $643 billion in sales by 2020. This represents an increase of 24 percent over the previous year. A study conducted by economists of The Analysis Group found that developers selling products and services in different categories increased their business and impacted customers across the globe. App creators utilized their talent and enthusiasm to help users remain connected, healthy, and entertained. They used the App Store to play a crucial helping hand as developers adjusted to the year's challenges and introduced new ideas to the market.

3. A huge supply chain

Although the fundamental concept of the iPhone didn't change over this decade, the iPhone itself increased in power.

At the beginning of this decade, the fastest iPhone came with the iPhone 3G, the second version of the phone, sporting an inefficient Samsung CPU that had one core that ran with 412 MHz. Its successor, the iPhone 13 Pro, the most recent major update, has an Apple-designed chip with a maximum speed of 2.65GHz with six cores. The latest iPhone performance is comparable to laptops, according to tests.

A huge supply chain, Source: Proviewsapp

"Now that we're on iPhone 13, if we went back and used the iPhone 3 or 4, it would be like going back to the Model T," Kagan stated.

The disadvantage is that iPhones also cost more and, at a minimum, upfront. For instance, the iPhone 3G costs only $199 for the entry-level model. The two-year AT&T contract partially covered them. Apple's Pro iPhones are now priced at $999, and wireless agreements are available independently.

Each year, Apple's capability to launch a new model significantly better than the previous model was aided by a vast and well-developed supply chain, culminating in substantial assembly facilities in China run by Apple's principal supplier of manufacturing, Foxconn. In 2020, Apple had the most productive year. Apple declared that it had created 5.2 million jobs across China.

The components comprised the iPhone and other smartphones' tiny cameras, heavy battery packs, and top-quality touch screens were copied and later became standard, allowing an entire generation of entrepreneurs to develop new hardware-based products, including scooters and drones, and other smart home appliances.

4. Tim Cook's era

In the beginning, Apple was led by its founder Steve Jobs. On August. 24, 2011, just two months before Jobs passed away, Tim Cook took over as Apple's CEO. He's been the CEO ever since.

Under Cook, Apple has sold millions of iPhones and made billions of dollars in profits. In one instance, it recorded what was then the highest profit quarter for any publicly-traded company.

Apple has been the most profitable publicly-traded company in the last ten years. It recently lost the crown briefly to its long-running rival Microsoft and, more in the past, Saudi Aramco.

For many years, Apple grew a massive accumulation of cash and marketable securities. As a result of the success of iPhone sales. However, in 2018, following tax reform, the company announced that it would distribute the bulk of the money to its shareholders through dividends and buybacks.

Consider this: from 2011 Apple's total profit increased by a staggering 190 percent. Yet, at the same, the EEPS (earnings per share) increased by 325% during the same period. The "net income leverage" effect was possible because shares were cut by about 30 percent between 2013 and 2020. The chart below was published in June 2020 and was not adjusted to reflect the most recent split of the stock.

In the process, Apple has crossed several significant milestones. This was added to the Dow Jones Industrial Average in 2015, which is a sign that Apple is a blue-chip company and a standard-bearer for the industry. Apple was endorsed by the well-known tech-savvy investor Warren Buffett, whose Berkshire Hathaway has more than five percent of Apple.

It also unveiled an iconic landmark in the year 2017. Apple Park, a massive corporate campus in Cupertino, California, estimated to cost $5 billion to construct, is now the company's headquarters. Apple also announced three major product lines in 2017, including The iPad, Apple Watch, and AirPods. Each has been well-loved by consumers. 

Apple's-market-cap-increased-to-$2 trillion, Source: FactSet, Getty Images

In August of 2018, Apple Inc. became the first company to achieve a market capitalization of $1 trillion. Two years later, it was the very first publicly traded U.S. company to surpass $2 trillion. In March 2021, Apple's market capitalization was $2.08 trillion.

5. The victim of its successes

Apple is entering the next decade as a giant with a wealth of highly profitable products. However, it is increasingly facing issues due to its scale and popularity.

Recently The House Judiciary Committee has requested documents from Apple together with Amazon, Facebook, and Google in an antitrust investigation, as the atmosphere in Washington becomes more skeptical about Big Tech. In the last few months, Cook has had to answer questions from journalists worldwide about whether Apple has monopoly status, primarily based on its control over Apple's App Store service.

The victim to its successes, Source: Proviewsapp

"Any reasonable person would never describe Apple as a monopolist," Cook stated in October.

Consumers and activists also have a growing concern about the environmental impacts of selling new hardware to millions of users, who update their devices every couple of years. Recently, Apple has introduced new recycling programs and initiatives to reduce the amount of waste in landfills.

Others like former head of Apple creator Jony Ive have voiced concerns that iPhones might be too tempting and that people won't be able to take them off. To counter this, Apple introduced a Screen Time feature to help users get rid of their dependence on the small, glowing screen.

Kaiwei Tang, co-founder of Light, the company that offers an iPhone alternative that is focused on limiting excessive use.

"People are beginning to notice certain indicators. It's just basic math. five hours every time on the phone. what else are you capable of doing in this period of time?" he continued.

The most important problem is it being that iPhone was a one-time device that didn't develop at the speed it did over the last decade, during which millions of people bought an iPhone at first.

The sales of unit iPhones were at their highest in 2015, with 231 million. Since then, they've been mostly flat. In 2019, Apple announced that it no longer was planning to release unit sales which suggested that revenue total and other metrics provided enough information to investors.

However, Apple has focused investor interest on the unit which it refers to in the context of "wearables," which includes the Apple Watch and AirPods and its services division which offers subscriptions to media such as Apple TV+ as well as Apple Arcade. However, the iPhone still made up 54% of Apple's total 2019 sales.

The 2020s' ability to be as good to Apple as the past ten years have been will depend on whether online services and personal computers transform our lives as they did with the iPhone.

6. Conclusion

iPhone is becoming more and more essential and indispensable for each of us. In the future, iPhone promises to come with more and more features. Please continue to watch the development of this product line and trust how it will transfer to significant changes in our lives.

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 Hopefully, this knowledge will be useful to those of you who are looking forward to the development of the iPhone. Thank you very much for reading, and responding to us via email.

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