Tim Cook:

Last week we passed another major milestone when we sold the billionth iPhone. We never set out to make the most, 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.

Remember when the iPhone was first announced and Steve Jobs talked about the iPhone capturing 1% of the handset market? At the time, that would have been about 10 million units. I think it’s safe to say that the iPhone exceeded all of our expectations.