It has been a busy week of announcements for Apple. A couple days ago, the company released its quarterly reports, which showed a decline in iPhone sales while improving in its services and applications silos. Now, the company has confirmed that the company has sold its one billionth iPhone. 

It's an impressive milestone, especially with sales slipping slightly and the smartphone market in general proving saturated by an influx of devices, according to Gartner.

Apple's CEO Tim Cook made the announcement at a Cupertino-based event yesterday, where TechCrunch along with other media and select employees were in attendance. The CEO thanked his employees for "helping change the world every day," adding that Apple has "always set out to make the best products that make a difference."    

To put the speed at which Apple has reached this milestone in perspective, Engadget notes that only two years ago, the company sold its 500 millionth iPhone. Whether or not the iPhone 7 can help Apple reach the two million mark even quicker, remains to be seen.