Apple reported stunning results for the last quarter, and it has clearly become a dominant phone company in a very short space of time. John Gruber from Daring Fireball has the real punchline, but his analysis of the results is excellent reading as a whole:
The entire iPhone platform is only 15 months old. The cheapest model still costs $199. The room for growth in this market is unlike anything Apple has ever seen. So the question is: Despite continuing strong iPod sales and record-breaking Mac sales, how long until the iPhone is undeniably the primary product and platform made by Apple?
My answer: Not long.