Apple CEO Tim Cook started today's iPhone keynote in traditional fashion with an update on how the company's mobile business is faring. In terms of sales, the company says it is on track to sell its 700 millionth iOS device by the end of next month. The company had last announced in June of this year that it had sold 600 million iOS devices in total, which includes iPhones, iPads, and iPod touches. For comparison, Google just announced that it had one billion Android activations, but, of course, multiple manufacturers create products that use the open source operating system.

Cook also provided an update on the company's retail stores. He said that the company is "turning our focus back home" after expanding widely across the world, and he highlighted a store that it recently rebuilt in Stanford, California. The CEO also spoke about the iTunes Music Festival in London, which features 30 nights of live music. He said that 20 million have entered for tickets, which will be available free of charge. It will also be streamed to over 100 countries.

The update comes after a rough year on the stock market for Apple. The company's shares peaked at just over $700 last September (a year after Steve Jobs' death) when the iPhone 5 was announced, and have since fallen back to earth — though there have been signs of a resurgence recently. The year hasn't seen any major new product announcements beyond some iterative updates; we'll have to see the company intends to change that today.

Check out our iPhone Live Blog for the latest updates — and join us after for The Verge Live!