Apple's IPhone Turns 10 Years Old: What's Next

Editors' pick: Originally published Feb. 9.

Updated from 2:03 p.m. with additional information.

After a somewhat rocky end to the iPhone's first decade,

Apple (APPL) bulls are looking for an iPhone 8-led rebound.

CEO Tim Cook took a pay cut after the first-ever year-over-year declines in iPhone sales led to a drop in sales, nearly ten years to the day that Steve Jobs first told fanatics that Apple would cram a smart phone into an iPod, revolutionizing the consumer technology and telecommunications industries.

China will play a pivotal role in the next chapter of the iPhone's story. Even after headwinds this year, the iPhone maintains strong market share in China. But key questions include whether new screens and form factors will revive growth in the world's largest market -- and whether President-elect Trump will complicate matters by starting tariff wars.

The iPhone's declines were a major reason that Apple's net sales declined 8% to $18.1 billion during fiscal 2016. Unit sales dropped 8% to about 212 million in 2016, after leaping 37% to 231 million the prior year.

Globally, Gartner puts the iPhone's share of the global smart phone market at 11.5% at the end of the third quarter, down from 13% at the same period in the year before.

Samsung (SSNLF) which has suffered through a recall of the Galaxy Note 7, has the largest share with 19.2% of the close of the third quarter, down from 23.6% the year before. Next is Huawei, which climbed one percentage point from 2015 to 8.7% at the end of the third quarter. Chinese phone maker Oppo increased its global market share to 6.7%, from 3.4% at the close of the third quarter of 2015. 

Samsung's woes may well benefit Apple.

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