“It took 16 months, but O2 UK, Telefonica’s British subsidiary, managed to sell its 1 millionth Apple iPhone before its parent company released its 2008 earnings report Thursday,” Philip Elmer-DeWitt reports for Fortune.

“‘iPhone sales are continuing to accelerate,’ said Matthew Kay, CEO of O2 UK. Despite the dismal economic climate, the division’s annual sales were up 10.6% in 2008, thanks in large part, said Kay, ‘[to] the success of our products at the top end of the market, including BlackBerry and iPhone,’” Elmer-DeWitt reports.

“By the end of 2008, Apple had sold 17.38 million iPhones worldwid,” Elmer-DeWitt reports.

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