Apple has sold its billionth iPhone

Apple has just announced a new major milestone for the company: it has sold its billionth iPhone. Company CEO Tim Cook made the announcement to Apple employees this morning, saying, "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."

According to Cook, the one billionth iPhone was sold some time last week. "We never set out to make the most," he said in a statement, "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."

The announcement comes a day after Apple's third quarter financial report, which revealed that iPhone sales are down both year-on-year and compared to the company's previous fiscal quarter. Sequentially speaking, iPhone sales dropped 27-percent, while the number was slightly lower year-on-year at 23-percent. Still, the number they sold in Q3 was by no means low at 40.399 million units.

The company's overall financial report showed a faltering in quarterly revenue and net income, but it wasn't all bad news. The company announced its highest ever App Store revenue last quarter, and it saw its services businesses grow by 19-percent year-on-year.