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“The iPhone has transformed how we do things every day,” Apple CEO Tim Cook said in San Francisco on Wednesday, introducing the iPhone 7, the latest in a product line that created the smartphone industry when it debuted in 2007.

The iPhone has also transformed Apple, turning it into the most valuable corporation in the world. The company has sold over a billion of the devices. But the iPhone's effects are beginning to wear off. Making another product that creates such a large new market, so fast, might be impossible. “Usually you don’t see companies start more than one industry," says Constance Helfat, a professor who studies tech-company strategy at Dartmouth College.

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