First-generation Apple iPhone sells at auction in US for $190,000

Device launched by Steve Jobs in 2007 with promise to ‘reinvent the phone’ sells for 300 times original price

A 2007-era Apple iPhone has been sold for $190,372.80 (£145,416) at an auction – 300 times more than its original sale price.

The 4GB model went on sale in 2007 for $599 but has soared in value. The auction was run by the US company LCG Auctions, which described the iPhone as a “popular high-end collectible,” which was “exceedingly rare”.