29 June 2007: Apple’s iPhone goes on sale for the first time

Smartphones are now so ubiquitous that it's strange to think it's just been a few since the first one made its appearance.

But it is. The world's first real' smartphone, the Apple iPhone, went on sale on this day all the way back in 2007. There had been phones that did things smartphones do the Nokia Communicator, for example, which could send emails and browse the web; and a line of PDAs, (personal digital assistants, a sort of electronic Filofax) released by Palm and the like. But none had the desirability, usability and sheer impact of Apple's iPhone.

The iPhone, said Steve Jobs, was "a revolutionary and magical product" that was "literally five years ahead of any other mobile phone".

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

In a phenomenon that has become commonplace at Apple launches, people queued for days to get their hands on one of the devices. British consumers, however, had to wait until 9 November before it was launched here. Nevertheless, hardy British customers camped out in the late autumn rain.

The iPhone cost just $150 million to develop, but sales have been phenomenal. Five million of the original iPhones were sold before the iPhone 3G was launched a year and a half later.

And the success has continued. In 2024, Apple generated $390.8 billion in revenue, and more than half of it (51%) came from iPhone sales.

The company now claims a 17% market share of the global smartphone market, making it one of the biggest smartphone brands in the world.

On the day the iPhone was launched, one Apple share would have cost you $17.43. Today, you're looking at over $200.