Apple Sells Its 1 Billionth iPhone

Apple Inc. (NASDAQ: AAPL) reported on Tuesday better-than-expected third-quarter earnings results, and as an appropriate follow up, the company said it has officially sold more than one billion iPhone devices.

Apple said in a press release that at some point last week the company sold the billionth iPhone device.

"iPhone has become one of the most important, world-changing and successful products in history. It's become more than a constant companion," Apple's CEO Tim Cook said in the company's press release. "iPhone is truly an essential part of our daily life and enables much of what we do throughout the day."

The Next Billion iPhones?

Now that Apple has crossed a milestone the natural question investors want to know is when the next milestone will be achieved.

Related Link: If You Sold Apple Following BGC's Downgrade, Here's How Much Money You Missed Out On

According to CNN Money, if Apple continues selling its iPhone devices at a current pace, it will have sold its 2 billionth iPhone device by 2020.

Apple's next leg of iPhone growth is likely to come from emerging markets, including India.

According to 9To5Mac, Foxconn, one of Apple's most important suppliers, was reported to be close to signing a deal with the government in India to open at least one 1,200-acre facility to manufacturer iPhones.

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