2010 has proved to be an exceptional year for Apple Inc., when it dethroned Microsoft as the world’s most valuable technology company. This huge jump for Apple is mainly attributed to launch of the new iPad and iPhone 4 devices.
Last week, Britain’s Financial Times named Steve Jobs, CEO of Apple, as the “Person of the Year”. This award has even been acknowledged by US President Barrack Obama.
Back in January 2010, Jobs took the stage in San Francisco and announced the launch of the new iPad. Little did many know that this would mark the most remarkable comeback of any company in modern business history. A little more than a decade ago, the majority of business analysts considered Steve Jobs’ career in Apple as washed up and his relevance to the future of technology was written off.
Despite this, when the iPad hit stores in the US in April 2010, it proved to be a massive success. The device sold more than 8 million units in the US by end of September. Apple has set the standards, which a number of companies are now aspiring to. Companies including Samsung, RIM, HP and Dell all have all decided to follow in Apple’s successes and announced the launch of their versions of their tab devices.
Apple, however, are still dominating the tab market and no other company could introduce a device worthy of taking Apple’s dominance away. Not only does Apple dominate the tab market, but they also dominate the MP3 market with their iPod released back in 2001.
According to a report by Goldman Sachs, it is expected that Apple will ship around 37.2 million iPads in 2011.
The iPhone 4, also released in 2010 already sold 14.1 million units by end September.
2010 also saw the release of Apple’s new Apple TV, which was once dismissed by Jobs as a ‘hobby’. The device, which streams content from the web, already sold more than 1 million units in a couple of weeks since its launch.
For those who could remember back in 2003, Apple’s shares were worth a mere $10 per share. Those who trusted Apple and bought into the shares at the time will be smiling today when shares closed on Thursday at more than $320.
Back in May, when Apple surpassed Microsoft as the world’s most valuable technology company, it was estimated to be worth more than $300 billion.