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Apple Inc. is an American based technological company incorporated on January 3, 1977, with its’ headquarters residing in Cupertino California. Steve Jobs founded it along with his partners Steve Wozniak and Ronald Wayne. Apple Inc. designs and produces top of the line smartphones, tablets and computers. Furthermore, it produces smartwatches, digital streaming services and creates the software used in its’ devices.
As mentioned before, Apple Inc. is in the technology industry which puts it in competition with companies such as Samsung, Microsoft, Google, and Sony just to name a few.
Apple competes with these companies in the production of smartphones, laptops and high-end software. Well-known executives of Apple Inc. include Chairman Arthur D. Levinson and Tim Cook, the CEO of Apple. Tim Cook enthralled the world not only when he was announced as Steve Jobs’ successor but also when he openly admitted to being gay. Apple Inc. conducts the majority of its’ business in North America, more specifically in the United States however it does possess a fair amount of market share across the world.
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Additionally, it conducts business in European countries such as England and France and Asia with countries such as China and Japan. Moreover, it conducts business in South America, Australia, Africa and just in general anywhere with working electricity. Apple Incorporated’s wide market share across the planet led to it becoming the first company valued at one trillion dollars however even with this startling number Apple still seeks to expand its’ borders to reach even more of the world.
The value package is defined as the combination of function, features, and benefits that help to determine the value of a product.
The function describes what the product is intended to do and how it should work. The features are specific, additional characteristics that provide an enhanced experience as well as improve functionality. Finally, the benefits are the advantages gained from purchasing these products such as status and image. One product line Apple produces is its’ smartphones or more specifically its’ iPhone line. The main function of an iPhone is the same function as any other smartphone in the market provides which is to allow communication phone-to-phone and a slightly significant function which is growing in popularity which is instant messaging. The features of the iPhone that separate it from its’ competitors include the iOS software, true depth face recognition, and a full-screen OLED display. The iPhone is the only line of smartphones that run Apple’s exclusive IOS software which entices customers to purchase. The true depth face recognition feature allows for you to unlock your iPhone just by looking at it allows for quicker and more comfortable use. Lastly, the full-screen OLED display delivers breathtaking visuals along with increased screen size to reduce the strain put on your eyes. The main benefit derived from an iPhone is usually the status it provides. At a price of more than $1000, the Apple iPhone is no cheap smartphone to purchase and thus provides a sense of status when other people see you with the latest edition.
Apple offers is the MacBook product line. Features a MacBook offer are the same as a desktop which includes surfing the web, creating documents, watching videos, playing games but a MacBook provides even more features which include portability, and lightweight material. The features derived from a MacBook consist of a touch bar and true tone display, both found in the 2018 MacBook Pro. The touch bar is a new addition to the MacBook line and it is a thin line of glass found above the keyboard. On this touch bar, you can unlock your MacBook via touch id, activate Siri, adjust sound, adjust brightness and much more. The true tone display refers to the type of screen built-in to the MacBook and can adjust itself to the surrounding area to reduce strain on the eye and provides better colour and visual effects. The benefit of a MacBook is identical to that of the iPhone being the status it provides. MacBook’s range in price from $1000-$3000, which is not cheap compared to other laptops which goes to show the status Apple wants to emphasize with its’ products. After analyzing the value package of Apple’s products, it is clear they are more focused on developing and innovating their products such as the iPhone and MacBook instead of inventing new products. Apple is focused on providing new features with their already established product by providing constant updates to their software and hardware as well as providing a status with the purchase of their product.
As a critical fundamental of a business is to generate revenue and profit it is essential to know whether or not Apple is generating a high enough revenue to turn a profit. After reviewing Apple’s income statement, we note that in 2013 Apple generated $170 910 of revenue, $182 795 in 2014, $233 715 in 2015, $215 639 in 2016 and $229 234 in 2017 (all in millions of dollars). An analysis of this info indicates that from 2013 to 2015, Apple’s revenue was increasing steadily to $233 715. However, in 2016 the revenue decreased slightly but later started increasing again as shown by the 2017 revenue. Overall if this were to be graphed it would show a positive trend indicating an increasing revenue count which is favorable when running a business. This positive trend in revenue is most likely linked with the annual release of new, innovative products coupled along with Apple’s increasing brand awareness and brand loyalty.
Although revenue is a crucial incentive for a business it means nothing unless it is enough to turn a profit. A simplified definition of profit is the difference between your revenue and your expenses and to turn a profit your revenues must exceed your expenses. After referring to Apple’s income statement we note that in 2013 Apple made a profit of $37 037, $39 510 in 2014, $53 394 in 2015, $45 687 in 2016 and $48 351 in 2017 (all in millions of dollars). After examination, we notice that in all five previous years Apple has generated a profit. Further from 2013 to 2015, profit continued to increase but then took a hit in 2016, likely due to the decrease in revenue earned that year. However once again, similar to the revenue, profit started to increase again in 2017. Once again we see a positive trend, this time for profit presumably because Apple has developed its’ brand to increase sales which in turn develops a higher profit.
Recently Apple has received a lot of detrimental media presence that should be touched upon. Most recently, Apple released its’ newest addition to the iPhone collection, this year adding the iPhone XS and the iPhone XS Max. The hype for these brand new iPhones was just a high as previous years and thus drove a lot of customers to purchase the phone. Although a numerous amount of cases have popped up regarding the new iPhone XS and iPhone XS Max. Multiple consumers are claiming that the new editions of the iPhone will not charge when in standby mode. Furthermore, when trying to charge their phones, customers claim the phones become frozen and have to be restarted for regular use. Many similar scenarios have been brought to the light, however, Apple has yet to issue a statement about this predicament. When discussing with the CEO, it would be wise to bring up this issue as to why it is happening, why hasn’t Apple made a statement and what Apple is doing to fix this issue.
Apple - Current Sales Situation. (2024, Feb 25). Retrieved from https://studymoose.com/apple-current-sales-situation-essay
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