Apple: Company Profile, Main Products, Current Market
Apple Inc. was established in the year 1976 in California by Steve Jobs, Steve Wozniak, and Ronald Wayne and it was incorporated in January 1977. The company was previously named Apple Computer, Inc. but the computer in the name was removed due to the expansion of the businesses into other electronic products. Apple Inc. manufactures consumer electronics including mobile phones, music players, computer software, and personal computers and accessories[T1]. Apple sells iMac computers, iPods, iPhones and it has also recently launched iPad [T2] and its new version of iPhone 4. The Mac OS X operating system and iTunes are the best media browsing for the entertainment of the customers. Apple operates in around 284 retail markets in more than ten countries and it has its online store from where the customers can download applications and software for their iPhones and computers. In the year 2009, Apple had employed 34,300 full-time employees and 2,500 temporary employees.
The company has an annual sale of $42.91 billion (Yahoo! Finance 2010). Apple is known for its comprehensive design and technology which have now achieved a unique reputation in the electronics industry. The company is devoted to its valuable customers and it has been announced as the most admired company in the world from 2008-2010. Along with other five companies, Apple has also received the American Brand Excellence Award from the City Business Journals Network (CBN). “What makes the American Brand Excellence Awards unique is that they represent how business owners and managers feel about the companies that support their businesses and help them grow,” (Conley 2008). Apple has recently crossed over its competition, Microsoft in the terms of sales, technology, and customer care services (Adimoga 2008).
Apple has been very successful in the last few years based on its imaginative way to create consumer electronic goods. It has been winning a lot of appraising on its market for the combination of style and design of its products. In 1998, the iPods came to the company’s rescue, when the company was going under a collapse. The first three years of the IPods was a flop but its sale rose from 2001-2004 that making approximately 10-20 million per unit. The smart IPods and iTunes are a remarkable combination of good hardware with style and performance. The user-friendliness of the IPods and iTunes made a good e-business in the online stores of Apple. The company’s share value has risen sharply over the last five years from just $7.5 per share to $180 per share and it is further expected to grow as the company’s technologically driven products are still attracting millions of customers creating value for the company.
It was estimated in July 2008, before the economic crisis, Apple had a stock capitalization of $160 million, and recently in 2010 Apple’s shares topped the mark of $210 (Vertygo Team 2010). All this happened because of the marketing strategies, Apple has been following. Apple’s success in the release of iPhones proved to be amongst the most influential product of the year. Later in the year 2009, Apple introduced the Iphones 3GS which has a more amazing user interface and it is not only mobile but it is a phone with a computer in it. A sale of 33.75 million iPhones has been made across the world and a total of 6.1 million iPhones were sold solely in the US, UK, Germany, and France. Apple has recently introduced the iPad and iPhone 4 that are supposed to give the best experience of surfing on the web (Vertygo Team 2010).
List of References
Adimoga. (2008). Cases for iphone 3g. Web.
Conley, G. (2008). Apple Inc. takes top Business Journals Brand Excellance Honor Orlando Business Journal.
Vertygo Team (2010). Apple Marketing Strategy. Web.
Yahoo! Finance. (2010). Apple Inc. (AAPL) – Profile. Web.