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Apple sells one millionth iPhone

It took just 74 days to sell 1m units of the Apple iPhone. The iPod took two years to achieve the same feat

It took just 74 days for Apple to sell one million iPhones. Steve Jobs' target of the Apple iPhone taking 1 per cent of the mobile phone market looks set to become reality.

Apple sent out a press statement this afternoon announcing that it sold the millionth Apple iPhone yesterday. Since its introduction in the US on 29 June, the iPhone has sold better than even Apple's predictions. For example, it took two years for the iPod to reach the same milestone.

"We can't wait to get this revolutionary product into the hands of even more customers this holiday season," Steve Jobs, Apple's CEO, said in the statement.

Apple now aims to sell 10m iPhones by the end of next year to achieve its target of 1 per cent of the mobile phone market. Last week, it slashed the cost of the Apple iPhone by $200.

We'll have to wait and see if the newly launched Apple iPod touch will eat into sales of the iPhone at all. Since the launch of the Apple iPhone, when 270,000 units were sold in 30 hours, sales have apparently slowed. The question is whether it will continue to sell like this for any length of time.