Mark Cuban sounds off on the iPhone 7: 'They needed it'

Billionaire businessman Mark Cuban said Apple "needed" the release of the newly-revealed iPhone 7, even if "it wasn't revolutionary."

The owner of the NBA's Dallas Mavericks and star of ABC's "Shark Tank" gave his thoughts on the iPhone 7 in an interview with Business Insider on Monday.

"I mean they needed it," he said. "Their iPhone sales have been on the downswing."

"Even if it wasn't revolutionary - or even evolutionary - there's a natural upgrade cycle and a natural ecosystem that some segment and some percentage of their customer base will take advantage of," he continued. "So it was a business necessity."

He compared Apple's new phone to the "old days with PCs," saying that when computers advanced from "1 gigahertz to 1.5 gigahertz, it wasn't revolutionary but it supported the upcoming cycle."

As Business Insider's Steve Kovach wrote last week, the iPhone 7 is relatively unchanged aside from slight improvements, most notably to the camera and processor. However, it will "sell like hotcakes anyway," his headline read.

The most publicized change that Apple's phone underwent was the removal of the headphone jack. The company is now selling a set of wireless headphones called AirPods for $159.

Cuban said, although there's a lot of commotion over the headphones, "it'll work itself out" and the feature only has a finite time of being controversial before everyone figures out how to get used it it.