Now let's fast forward to the most recent quarter. Nokia no longer has over half the market, and actual figures for the third quarter show that Nokia's market share has dropped down to 38.9%, while Apple comes in a much closer second, with 17.3% market share, a much closer market than Nokia has seen in a long time. For a better idea of just how strong the iPhone has been, consider that this time last year, Apple's share of the smartphone market was a mere 3.6%. What a difference a year can make.

It has definitely been the year for the iPhone, but only time will tell how long Apple will continue to put up such strong numbers. While the quarter was extremely strong, it did also include the release of the new iPhone 3G, which drew large crowds. Everyone knew the initial sales of the new 3G were going to be through the roof, but how long this wave will last remains to be seen. Another potential reason why RIM could have seen a drop in market share is that a lot of Blackberry users have been waiting for the new Storm 3G to arrive, and once that hits the market we could see its market share move back higher again.

Regardless of how things shape up in the month's to come, this is definitely a great day for the iPhone, and a tribute to its popularity.

Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the online investment advisory service Investor's Observer.