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>> Apple's iPhone, ten years old this week. But a decade ago, it wasn't exactly the superstar that it is today. Stephen Nellis here with Reuters news in San Francisco. Apple's iPhone turns ten years old today, but when it came out in 2007, there's a whole bunch of stuff that it didn't have.
It didn't have an app store, for example. It didn't have GPS in it to get your precise location to do something like hail an Uber. It was also $600, a price so high that just a few months after it came out, Steve Jobs cut the price and had to apologize to the early iPhone customers and offer them a $100 rebate in Apple's store.
So it wasn't until a year after the iPhone launched that Apple finally introduced the App Store which brought you most of the services that you probably now know and love, like Facebook on your phone, Instagram, Uber to get a ride, Yelp to find out what restaurants are good.
The App Store also gave Apple a stream of revenue from the cut that it takes from the money the developers charge for those apps on your phone. That stream of revenue actually is still a bright spot in Apple's financials even as the sales of the iPhone itself started to flatten out or even decline in some cases.
But perhaps the most important thing that came after the launch of the iPhone wasn't from Apple at all. It was from Google which felt its business model was threatened by the presence of the iPhone. Google brought a small startup called Android that made a mobile phone operating system and then it teamed up with handset makers like Samsung, Motorola and HTC, and carriers like Sprint and Verizon that Apple wasn't working with on the iPhone to create the Android ecosystem.
Over the next 10 years, Google and Apple duped it out trying to win customers either the iPhone and iOS or Android and Google's ecosystem. What happened is that Apple ended up with most of the profits, but Google ended up with most of the users. Along the way, an entire ecosystem of very, very affordable phones opened up.
You can get android based phones for as little as $50 or even lease them for a few pennies a month in some countries. What that is meant, is that two billion people now have smart phones. For many of those two billion people, the phone is their first computing device, and the first device that connects to the internet.
So even though the Apple iPhone wasn't exactly a rock star out of the gate, ten years later it has changed the world just like Steve Jobs had hoped that it would and at the Mac and the Apple too would before back in the 70s and the 80s.