Apple is now worth over $1 trillion — here are 9 people who were convinced the iPhone would be a major flop (AAPL)
Alessia Pierdomenico / Reuters
Earlier this month, Apple became the first American company with a market cap over $1 trillion.
That was mostly due to the iPhone, possibly the most profitable product in modern history.
Last year, Apple sold over 216 million iPhones.
Obviously, it's a major hit — it basically mints money for Apple, now the most valuable company in the world.
But when it first came out, there were a lot of people who didn't think it was all that great. In fact, some people thought the iPhone was going to be an outright flop.
Here are some of those doubters and skeptics:
Steve Ballmer, then Microsoft's CEO: "There's no chance that the iPhone is going to get any significant market share. No chance."
Mike Segar/Reuters
The Microsoft CEO at the time made the claim to USA Today.
Richard Sprague, then-Microsoft senior director: "I can’t believe the hype being given to iPhone. I just have to wonder who will want one of these things (other than the religious faithful.)"
REUTERS/Yuya Shino
Source: Microsoft blog via Daring Fireball
Three years later, Microsoft held a funeral for the iPhone when it launched a new version of Windows Phone.
Flickr/trioculus
More details about the Microsoft stunt here.
See the rest of the story at Business Insider
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