The most desired and most famous smartphone in the world is losing its popularity fast. PayPal co-founder Peter Thiel had the same thing to say when asked by a New York Times Reporter about Apple's iPhone.

Age of Apple is over according to Peter Thiel. Asked to confirm or deny that the age of Apple is over, Thiel answered, "Confirm. We know what a smartphone looks like and does. It's not the fault of Tim Cook, but it's not an area where there will be any more innovation."

Apple iPhone sales were pretty much a 2016 disappointment by company standards. Before that, it was already noticed that Apple's revenue was declining by more or less 9 percent year after year. Apple CEO Tim Cook, however, is optimistic that revenue growth will return early this year given the successful release of the iPhone 7 and iPhone 7 Plus last year.

Last October, Apple experienced its first ever annual revenue decline in 15 years. Apple's annual sales in its fiscal year of 2016 fell to US$216 billion from US$234 the previous year. A sales decline of 30 per cent year on year was noticed in China caused by competition from other phone manufacturers such as Xiaomi and Huawei.

Apple is facing a tougher competition now with smartphones, most especially smartphones that run on Google's Android OS, getting more sophisticated every year. Korean tech giant Samsung, for example among other industry players, has caught up with Apple's iPhone by offering an even better line of smartphones with features and specs that surpass that of the iPhone.

The iPhone was first launched in 2007. It revolutionized the telecommunications industry and placed Apple in the lead. However, Apple has since lost its spark for innovation churning out mediocre products starting with the iPhone 6S back in 2015.

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