iWorld: Apple sells 1 millionth iPhone+

Apple Inc. said Monday that it has sold its millionth iPhone, just 74 days after the smart-phone combining the function of a cellphone and an iPod music player was launched late June.

Apple sold 270,000 units of iPhone in two days of the release on June 29 but has been struggling to build a substantial user base due to its high cost and slower data download speed.

While the iPhone's 8-gigabyte model was priced at $599, Apple said on Wednesday last week that it will slash the price by about 30 percent to $399 ahead of the holiday season. Apple has set a sales goal of 1 million units for the iPhone through the end of September.

"It took almost two years to achieve this milestone with iPod," said Steve Jobs, Apple's chief executive officer, in a statement.

"We can't wait to get this revolutionary product into the hands of even more customers this holiday season," he said.