The year 2007 was marked by significant global events and developments. The world witnessed the rise of the iPhone, which was released by Apple in June, revolutionizing the smartphone industry. Additionally, the global financial crisis began to take shape, with the subprime mortgage crisis in the United States leading to economic instability. In politics, Barack Obama announced his candidacy for the presidency, eventually becoming the first African American president of the United States. The year also saw the release of popular films like Harry Potter and the Order of the Phoenix and Transformers, which contributed to a vibrant entertainment landscape.