Apple is in competition from other companies when it comes
to phones and technology. The company used to be number one in the market, but
now it faces the problem of innovation. It has not come up with an entirely new
product for a very long time since the iPhone and iPad. Other companies like
Samsung have surpassed Apple’s sales with their Google-based Android phones and
tablets. Due to lack of innovation, Apple has sold thirty percent of their
shares.
In order to get back
its leading position, Apple has to come up with a new product that will exceed.
So far, the company has come up with a smart watch and an iTV, but a watch and
a TV are not exactly something new like the iPod and iPad were. Apple has been in business not by creating
products from scratch, but by making improved models. Other companies made the
MP3, tablets, smartphones, and PCs, and Apple stemmed iPad and iPhone from
there. Apple lets the other companies fight for being the top seller of its
product while increasing awareness of the product, and then it steps in with a
model that is more technologically advanced.
Now, the company plans to launch into an unfamiliar realm in
business, which is the wearable technology market. Apple is making a
smartwatch, but the company faces the challenge of advertising it to the public
and convincing them that it is useful and necessary. In addition, other
companies such as Google, Microsoft, and Intel are becoming competitors with
the innovation of TV. Cable companies are not so happy with iTV because their
concern is that people will buy shows through Apple rather pay cable. Before
implementing the idea, approval from cable companies is required. It will
probably not be as drastic as how iTunes changed the music business.
Another potential idea is improving Siri, a voice search engine,
and making it more useful and reliable. The engine was ridiculed in the past, but
Apple can add additional functions to it. It could connect other devices such
as a tablet or smartphone, or it could be the CPU of your home. Apple has created
a home ecosystem based on its product, which control the thermostat and lights,
along with other things. This could also be a solution.
As we can see, Apple faces the challenge of meeting the
expectations of the market. The demand of smartphones and tablets had worked
until recently when other competing companies have caught up with the consumer’s
needs. Now that it is no longer bringing the desired success it did previously,
Apple needs to be creative and come up with new products to offer to the
market. New ideas are taken in consideration, but it is unknown whether it will
be enough to keep Apple in the high standards or if it will be unsuccessful. I
think that the technological ideas will probably work because the public is
always looking for the newest thing available. Ideas such as the Apple based
home seem very intriguing, but another thing to keep in mind is the willingness
of the consumer to buy the new products. Will the people want to spend a lot of
money on these things? Or would they rather stay with the products available in
the market such as the laptops and tablets. It is likely that little spending
will occur in the future due to the economical restraints that are felt in the
present. With the rising national debt and the Obamacare issue, it is hard to
see anyone spending money lavishly.
Based on http://money.cnn.com/2013/09/08/technology/innovation/apple-innovation/index.html?iid=SF_T_River
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