Apple Inc. is an American multinational corporation. Fortune magazine named Apple the most admired company in the United States in 2008, and in the world from 2008 to 2012. However, the company has received criticism for its contractors' labour practices, and for Apple's own environmental and business practices. In 2007 Steve Jobs announced the iPhone at the Macworld convention, receiving substantial media attention. On June 29, 2007 the first iPhone was released.