Announced and introduced by Apple CEO Steve Jobs in Jan. 2007 after rampant rumors and speculation, the Apple iPhone went on sale June 29th, 2007 to much fanfare. It featured an innovative touch screen interface that launched the multi-touch revolution in mobile phones and spawned a slew of similar devices from competitors. The iPhone was named Invention of the Year by Time Magazine in 2007.
Apple spent an estimated $150 million developing it under heavy secrecy with Cingular Wireless, which was later bought by AT&T. In 2008 the 3GS version was released, with long lines at retail outlets nationwide.
Both versions of the phone garnered high sales, with the original selling 6.1 million units over five quarters, and by the end of 2009 over 33 million had been sold. The success of the device briefly made Apple the third largest mobile phone manufacturer, eclipsing rival RIM. Today, the phone is still wildly successful, with future plans for a 4G version to come.