Apple and the iPhone heads worlds top valuable brand, which sold about 78 million units in   2016. Its average selling price was $695. Pricing for chief competitor Samsung was more than $500 less, Apple earned 92% (according to Canaccord Genuity)of the profits in the smartphone category and it has racked up a cash hoard of $257 billion in its balance sheet.

In IPhone series The iPhone 8 is expected to be out in the fall. The Apple company is celebrating its 10th anniversary of the transformational product, and the latest version is expected to include an OLED screen, wireless charging and a host of other changes. The new features can push the price to north of $1,000 for the 256GB version and propel Apple to be the first company and with a market capitalization of $1 trillion.