An Apple conference expected to be the unveiling of the iPhone 5 recently took place, and was the first major public event for new company CEO Tim Cook.
"This is my first product launch since being named CEO," Cook said sarcastically at the highly anticipated event, "I'm sure you didn't know that."
Cook covered some of the major milestones the company has reached in the past few years, including 300 million iPods sold in the past 10 years. Apple has become the dominant force in the mobile industry, selling millions of mobile phone accessories and devices across the globe.
During the event, Cook explained that 5 percent of the global mobile phone market is iPhone. A large draw for many Apple device owners is the company's operating system, and Scott Forstall, Apple senior vice president of iPhone software, announced during the media conference that iOS 5 will become available for products on October 18.
The new iPhone shown at the event was the iPhone 4S, which the company touts as having up to double the CPU speed and seven times faster graphics – although the exterior design is largely the same as the original iPhone 4.