Since its launch in the US on June 29 2007, Apple has sold more than one billion units of the smartphone worldwide, helping to make the technology giant one of the wealthiest companies in the world.
In the firm’s most recent quarterly financial results, iPhone revenue was more than 33 billion dollars (£25.4 billion) - more than the entire quarterly revenue of some of its rivals, including Google and Microsoft.
According to one industry expert, the mobile internet connectivity and camera at the centre of the iPhone have been the driving forces behind the rise of other services, including visual communication services and social media apps.
Cathy Boyle, from industry analyst eMarketer, said the arrival of the iPhone paved the way for the rise of Snapchat, Instagram and others.
The iPhone was the first modern smartphone to successfully abandon a physical keyboard for a multi-touch screen, freeing up more space for displaying content.
“For millions of people worldwide, the iPhone is about the internet and the camera,” she said.
“Having access to the internet within arm’s reach at all times has changed the way people consume media, buy products and communicate.
“The camera alone has made communication far more visual, as people share millions of pictures and videos via SMS, social networks and messaging apps.
“The camera has also empowered every iPhone owner to become a content creator.”
Since the original two-megapixel rear camera that was housed in the first iPhone, the device and indeed its rivals have evolved to hold camera systems the equivalent of many standalone digital cameras.
The current generation iPhone 7 Plus has dual 12-megapixel rear cameras.
However, Apple has come under increased pressure from the likes of Samsung and Google at the top end of the smartphone market, as well as being squeezed by lower-priced mid-range devices.
The iPhone remains only the second most popular mobile platform in the UK, behind Android.
Apple has released 11 generations of the device since 2007, and is reportedly planning to unveil a special 10th anniversary edition of the smartphone in September.