Apple Inc (NASDAQ:AAPL)'s iPhone went on sale 15 years ago this week, ushering in the era of smartphones.
The tech giant released the first iPhone on June 29, 2007, with a 3.5-inch screen, tiny by today's standards, and a single 2-megapixel camera.
Today, Apple's most sophisticated phones include triple-rear cameras, powerful chips, sensors for navigating the world and shooting films.
Though iPhone technologies like the digital assistant Siri, mobile payments, and wireless charging have served as catalysts for the evolution of how consumers use their mobile devices, the most significant part of future iPhone's may be the environment it inhabits.
That is what analysts have to say who have tracked the mobile industry's general trends and Apple's strategy.
Apple could be set to release its virtual reality (VR) headset as early as January 2023.
As technologies like lidar sensor and artificial intelligence define its future, the iPhone could serve as a hub for smart glasses and other devices within the next decade, starting with AirPods, Apple Watches, and CarPlay-enabled vehicles.
But connecting to new personal technology devices is not all there is to it, for by weaving the iPhone even more tightly into non digital aspects of our lives, Apple is gradually replacing the wallet.
Over the last year, Apple has made great strides by rolling out new features such as Tap to Pay, which turns the iPhone into a contactless payment terminal.
Apple recently announced Apple Pay Later, which lets Apple Pay users split purchases into four equal payments over six weeks.
"Despite enormous macroeconomic pressure, the iPhone has helped Apple deliver another round of record growth at the last count. This is testament to Apple’s biggest asset - its brand," said Susannah Streeter, investment analyst at Hargreaves Lansdown.
The app store has also become an engine of growth for ingenious software applications, adds Streeter, and still "creams off a lucrative 30% revenue for developers earning more than US$1mln".