History of Apple Inc.
The first version of the iPhone became publicly available on June 29, 2007 in selected countries/markets. It was another 12 months before the iPhone 3G became available on July 11, 2008. Apple announced the iPhone 3GS on June 8, 2009, along with plans to release it later in June, July, and August, starting with the U.S., Canada and major European countries on June 19. This 12-month iteration cycle has continued with the iPhone 4 model arriving in similar fashion in 2010, a Verizon model was released in February 2011, and a Sprint model in October 2011, shortly after Jobs' death.
IPhone (1st generation)
The iPod Touch, a touchscreen device with the media and internet abilities and interface of the iPhone but without the ability to connect to a cellular network for phone functions or internet access, was released on September 5, 2007. At the same time, Apple significantly dropped the price of the 8 GB model (from $599 to $399, still requiring a 2-year contract with AT&T) while discontinuing the 4 GB model. Apple sold the one millionth iPhone five days later, or 74 days after the release. After receiving "hundreds of emails...upset" about the price drop, Apple gave store credit to early adopters.