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Apple

An American multinational technology company

Summary

Apple is a multinational corporation that designs, manufactures, and markets consumer electronics, personal computers, and software.

History

Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak’s Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple II, grew quickly. Within a few years, Jobs and Wozniak had hired a staff of computer designers and had a production line. Apple went public in 1980 to instant financial success. Over the next few years, Apple shipped new computers featuring innovative graphical user interfaces, such as the original Macintosh in 1984, and Apple’s marketing advertisements for its products received widespread critical acclaim. However, the high price of its products and limited application library caused problems, as did power struggles between executives. In 1985, Wozniak departed Apple amicably and remained an honorary employee, while Jobs and others resigned to found NeXT.

As the market for personal computers expanded and evolved through the 1990s, Apple lost market share to the lower-priced duopoly of Microsoft Windows on Intel PC clones. The board recruited CEO Gil Amelio to what would be a 500-day charge for him to rehabilitate the financially troubled company—reshaping it with layoffs, executive restructuring, and product focus. In 1997, he led Apple to buy NeXT, solving the desperately failed operating system strategy and bringing Jobs back. Jobs regained leadership status, becoming CEO in 2000. Apple swiftly returned to profitability under the revitalizing Think different campaign, as he rebuilt Apple’s status by launching the iMac in 1998, opening the retail chain of Apple Stores in 2001, and acquiring numerous companies to broaden the software portfolio. In January 2007, Jobs renamed the company Apple Inc., reflecting its shifted focus toward consumer electronics, and launched the iPhone to great critical acclaim and financial success. In August 2011, Jobs resigned as CEO due to health complications, and Tim Cook became the new CEO. Two months later, Jobs died, marking the end of an era for the company. In June 2019, Jony Ive, Apple’s CDO, left the company to start his own firm, but stated he would work with Apple as its primary client.

Apple’s worldwide annual revenue totaled $265 billion for the 2018 fiscal year. Apple is the world’s largest technology company by revenue and one of the world’s most valuable companies. It is also the world’s third-largest mobile phone manufacturer after Samsung and Huawei. In August 2018, Apple became the first publicly traded U.S. company to be valued at over $1 trillion and just two years later in August 2020 became the first $2 trillion U.S. company. The company employs 137,000 full-time employees and maintains 510 retail stores in 25 countries as of 2020. It operates the iTunes Store, which is the world’s largest music retailer. As of January 2020, more than 1.5 billion Apple products are actively in use worldwide. The company also has a high level of brand loyalty and is ranked as the world’s most valuable brand. However, Apple receives significant criticism regarding the labor practices of its contractors, its environmental practices and unethical business practices, including anti-competitive behavior, as well as the origins of source materials.

Vision

Apple mission is “to bringing the best user experience to its customers through its innovative hardware, software, and services.” And in a manifesto dated 2009 Tim Cook set the vision specified as “We believe that we are on the face of the earth to make great products and that’s not changing.” Apple doesn’t currently have an official mission statement on its website, but company press releases end with the following statement that mentions empowerment:

“Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms—iOS, macOS, watchOS and tvOS—provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it”.

References

 

https://mission-statement.com/apple/

https://www.crunchbase.com/organization/apple/company_financials

https://en.wikipedia.org/wiki/Apple_Inc.

https://www.thebalanceeveryday.com/apple-mission-statement-4068547

https://www.linkedin.com/company/apple

https://www.dailymail.co.uk/sciencetech/article-8835117/Renders-Apples-iPhone-12-surface-tech-giant-officially-reveals-smartphone-lineup.html