Sales of the iPhone might be in a slump right now, but the iconic device from the Cupertino-based giant has managed to reach a very notable milestone nonetheless. In an announcement on Wednesday, Apple CEO Tim Cook revealed that the tech giant just sold its 1 billionth iPhone.

"iPhone has become one of the most important, world-changing and successful products in history. It's become more than a constant companion. iPhone is truly an essential part of our daily life and enables much of what we do throughout the day," Cook said in his announcement.

The 1 billionth device was sold sometime last week, though the tech giant has so far not revealed the identity of the buyer, nor the store where the smartphone was bought. Apple has also not announced if the 1 billionth iPhone buyer received anything special for basically being a notable part of the iPhone's history.

"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," Cook added. 

The iPhone is arguably Apple's most successful product to date, with the device widely considered as the product which almost single-handedly revolutionized the smartphone industry. While critics of the iPhone assert that Apple's devices have always been underpowered compared to its competitors and that the handsets are rather overpriced, the iPhone's seamless user interface and Apple's robust App Store have made the device very hard to beat.

The iPhone is set to experience another milestone soon, as the iPhone 7 is expected to be released later this year. Though the iPhone 7 is rumored to not have radical changes from the device's previous two iterations, Apple fans are expecting the smartphone to be one admirable device nonetheless. 

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