“The business model for year one of the iPhone was a disaster,” Tony Fadell, one of the Apple developers of the device, told Reuters in an interview on Wednesday. “We still have the voicemail from Steve Jobs when he called the CEO and founder here,” said David Bairstow at Skyhook, the company that supplied location technology to early iPhones. Ten years later, services revenue is a crucial area of growth for Apple, bringing in $24.3 billion in revenue last year. A repaired Apple iPhone is seen inside the proprietary Horizon machine fixture as it undergoes a repair procedure at Apple's display repair laboratory in Sunnyvale, California, US, May 19, 2017. Even though most of the world’s smartphones now run on Android, Apple still garners most of the profit in the industry with its generally higher-priced devices.

Source: Hindustan Times June 29, 2017 05:48 UTC