Do you wonder how much worth do big tech companies have? What if I tell you a company on earth sitting on whooping around $200 billion cash? Yeah, you heard it right. Apple is sitting on $200 billion cash and now worth $2 trillion and it is not the first to do so, but second.
Apple started in a garage in Los Altos, California. From that garage to the most profitable company in the world, Apple comes a long way. Due to its devices and services, Apple has been very successful globally. Its customer loyalty, demand, and product efficiency put it way ahead of its competitors.
Apple is one of the most successful companies in the history of humanity. At some points, it made struggles, but Apple does not compromise on its innovations. At last, in the early 2000s, Apple’s success graph starts moving upwards. But how? Let’s find out.
In this Blog
1. Steve Jobs Trademark
The name Steve Jobs cannot be separated from Apple. Steve Jobs became the synonym of Apple. He makes himself famous as the brand becomes famous. He introduced two more fields to his company to make it more successful.
- Mobile phones
He invests his time to find out what people before the people themself. This is how he redefined mobile phones and music player gadgets.
But, in 2011, Steve died due to pancreatic cancer. As a result, Tim Cook becomes CEO of Apple. Experts said this will be the end of Apple dominance, but the company continued its success.
2. Various Product Range
Apple has released various innovative and stylish products since the 1980s. From Apple II serious of personal computers, Apple released huge successful products like iPhone, MacBooks, iPods, iPads, and Apple Watch.
Apple is continuously introducing new gadgets in the market and updating its operating system regularly. It is making a kind of trap around its customers, and they cannot find it easy to quit Apple’s ecosystem because of services and advanced artificial intelligence.
3. Dynamic Business Plan
There are many reasons for Apple’s success but one of the main reasons is its continuously changing business plan. Thus, it makes Apple enables to adopt new changes quickly and make the market suitable for it. Steve Jobs makes Apple run on a dynamic business plan so that he can utilize his ability to read the pulse of changing market and customer demand. Way back when Apple was new, it was just another computer-making company just like other millions. But there was a difference in other millions of computer companies and Apple, The Steve Jobs. He knew what it takes to make Apple a giant. The previous name of Apple Inc. was Apple Computer Inc. Steve changed it to show his widen vision.
As time pass, Apple expands its plans to introduce a diverse range of products. As a result, Apple released Final Cut Pro (A video editing software) and expand itself beyond the computer market to Mobile Phones, Music Players, Tablets, watches, etc.
4. Apple’s Retail Stores
Apple found out that selling its products from other retail stores is not good enough. They were not providing the experience to customers at their stores that will satisfy Apple. Apple launched its Brick and Mortar Retail stores to increase customer loyalty and their experience while buying Apple products. This proved very good for Apple.
Apple was the owner of almost 460 retail stores, in 2015. This also helps Apple to take its mobile market profit to new heights.
In 1997, Apple became almost bankrupt. Then, Steve Jobs shakes hands with its greatest rival Bill Gates, the founder of Microsoft. This partnership was $150 million, which saved Apple from bankruptcy. According to the deal, Microsoft would support the Microsoft Office suite on macs. As a result, Apple will get $150 million from Bill Gates.
We must let go of the notion that Apple to win and Microsoft to lose.
Steve Jobs pull Apple out of the financial crisis with these partnerships.
After, Steve Jobs also make partnerships with other technology rivals like Samsung. These partnerships enhance the reputation of Apple and its profit.
6. Job Opportunities
After entering large markets of Asia and Africa, Apple created jobs for IOS application developers and other computer science, music, art-related jobs.
In the US alone, Apple has been successful in creating around 2 million jobs.
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