Apple sells one millionth iPhone

Apple has sold one million of its iPhones in just 74 days - compared to the two years the iPod took to hit the same sales milestone.

The touchscreen phone was released on 29 June in the US - and is due to arrive in the UK before the end of the year.

It has proved popular with Apple fans and analysts are predicting that when it is launched here it could quickly find its way into businesses with staff pushing employers to adopt the device.

Apple's CEO Steve Jobs said in a statement: "One million iPhones in 74 days, it took almost two years to achieve this milestone with iPod."

Apple last week announced a significant cut to the cost of the iPhone in the US, as well as unveiling its iTunes Wi-Fi Music Store last week which the iPhone and new iPod touch will be able to use. It also launched the revamped iPod Nano which has a larger colour screen.