Even before the release of the iPhone, Apple was wildly successful with its iPod and Mac lineups. Both products redefined how technology interacted with our everyday lives but Apple choose to revolutionize another device, the mobile phone. In 2007, Apple announced the first iPhone. Jobs stated in the iPhone press release that the "iPhone is a revolutionary and magical product that is literally five years ahead of any other mobile phone." It was truly magical and revolutionary.
It was a huge gamble for Apple since they have never made a phone before. But it paid off, with Apple selling a total of 150 million iPhones by September 29, 2013, which generated over $90 billion dollars in sales.
The iPhone is still very popular with consumers and with the newly released iPhone 5S and 5C, sales of these phones have been stronger than ever. Even though the company has not been innovating as much as before, the iPhone will remain as one of the most important innovations in technology history.
Source - Apple