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Apple Company Essay

623 words - 3 pages

Apple is prominently known as an American multinational corporation that architects and markets their own line of products in electronics, computer software, and personal computers. Established on April 1, 1976, Apple was founded by Steve Job, Steve Wozniak and Ronald Wayne. Today, Apple is noted predominately for the iPhone, iPod and the Macintosh line.
Apple started out as a manufacturer of personal computers predominantly for more than two decades. The Apple I was the company’s very first product that was sold as an assembled circuit board on July 1976 and during the first five years of operation, revenues doubled at a rate of 51% every four months with an average growth rate of 700%. Eventually by 1970, Apple was in the computing market to compete with IBM and Microsoft but was still struggling to gain a significant share in the market. However, in the 1990 Apple released several lines of Macintosh which included the Classic, LC, II, Quandra, Performa and Centris that sold, but from profit margin it was considerably lower than that of earlier models. It was evident that Apple had created too many similar models that not only confused potential buyer but lost interest from that of Apple enthusiast of the time. In addition to the decline of revenues, Apple struggled with the release of Window 95 operating system from Microsoft which enhanced IBM and Pc computers. . In 1998, Apple released the iMac which led Apple’s return to profitability but it wasn’t until the release of the MacBook Pro with an Intel processor in 2006 that really brought Apple back into the personal computer market. In the first quarter of 2008, it was recorded that Apple had a 14% market share in the personal computer market in the United States and making a mark in the industry’s expanding sale as a whole.
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