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TIME magazine has recently released the top 10 most sold items of all time. Published in partnership with 24/7 Wall Street, The basis of the list is reportedly the total volume of sales from all the points of the planet.

A lot of factors are at play on why the said products are sold more than their competitors in their respective industries. One, it was deduced that they have better functions than the competitors, which is a fact when it comes to gadgets like mobile phones and tablets. Two, it is possible that the products in the list cater to a certain need of a certain group of people who have significant contribution in the product's constant demand in the market. The third factor would be if there is some sort of a trend for a certain product that has gone viral globally.

The top 10 products are the following:

10. Rubik's Cube

The Rubik's Cube is owned by Seven Towns Ltd. The one-of-a-kind item has sold 350 million units. It remains to be the number one and top selling toy of all time, and the item caters to not just only the young, but adults who have been addicted to it as well.

9. iPhone

This smartphone produced by Cupertino, California-based Apple has sold 516 million units in the world! Since its release in 2007, the iPhone has evolved so many times with its latest iPhones versions 5s and 5c. Rumors are saying that the company is gearing for the release of iPhone 6.

8. "Harry Potter" Books

The "Harry Potter" books by author J.K. Rowling and published by Scholastic Publishing has sold 450 million units in the world. Because of this and the franchise it has spawned, Rowling has been considered the highest-paid author in the world to date.

7. Michael Jackson's "Thriller"

This iconic album by the late King of Pop, which was released by Epic Records, has sold 70 million units. Surprisingly, even after the passing away of Jackson, the album is still selling like pancakes not only to those who were born in the Pop era, but also to the new generation as well.

6. "Mario Bros." Franchise

This video game franchise created by Nintendo has sold 262 million units. The popular game's character, Mario, has been named by the Guinness Book of World Records in 2008 as the top video game character of all time thanks to his syndication.

5. iPad

Apple's iPad is still the best selling tablet of all time, with a reported total sales volume of 211 million units all over the globe. According to TIME, the iPad has held around 40% of the tablet market in 2013.

4. "Star Wars" film franchise

All the "Star Wars" movies, plus the special episodes, had grossed $4.6 million dollars to date. Rights of these movies, however, has been purchased recently by Disney from 20th Century Fox, although the latter still has the rights of the original "Star Wars" movies.

3. Corolla

Toyota's Corolla has a total sales volume of 40.7 million units around the globe. TIME has attributed such sales to the reliability and affordability of the brand.

2. Lipitor

Interestingly, the fighter of bad cholesterols is number two in the list. Garnering a total of $141 billion in sales dollars. Lipitor is produced by Pfizer and Plavix is its closest competitor in the market.

1. PlayStation

Sony's game console has sold 344 million units all over the globe. Since its release in 1995, it has been fast-evolving with the times, and its most recent version is the coveted PlayStation 4.