Mission Statement and Revenue of Apple Inc - Case Study Example

Online Research Report of Apple Inc Name Institution Date of submission Introduction This essay covers a report on Apple Inc. Company. Apple Inc. The company is a multinational company that has its base in Cupertino California United States. The company is a major developer and producer of consumer electronic that include, computers and their software among other products. The most renowned product of Apple Inc is the Mac line computers, media players like iPod, iPhone mobile device, iPad tablets and the latest invention which is Apple Watch smart watch. The company has online services that include the iCloud, the ITunes store and the recent market that is the App Store. Apple Inc was founded in 1976 by three founders namely, Steve Jobs, Ronald Wayne and Steve Wozniak. Originally Apple was established to develop and supply personal computers. The company transformed to Apple Computer Inc. in 1997 and later got renamed to Apple Inc. In 2007, this was to reflect the shift of the company towards production and sale of consumer electronics (Los Angeles Times 2). Mission Statement of Apple Inc The mission statement is what drives the company to the future in terms of achieving its vision. The Apple Inc website has not clearly started its mission statement. But it has a list of its products and its past achievements. This has created a debate over whether it is the mission statement or not as it cannot be clearly understood. After what the listing of products and the achievements, it ends with what looks likes like a mission statement that states. “Apple is committed to improving the personal computing experience to educators, students, consumers and creative professionals through innovative software, hardware and internet offerings.” This means that Apple has clearly identified its target population to which it produces products for and how to ensure that their consumers have a real experience with Apple Inc products (https://www.apple.com/). Revenue of Apple Inc Apple is among the world leading electronic companies, by this virtue, and its revenue has continued to grow over the years. According to the latest revenue data that was released in 2014, it had the second largest revenue after Samsung Electronics Company. As per November 2014, Apple Inc. was the world largest traded corporation in terms of market capitalization. It became the first company in United States of America to have a value of more than $700 billion. The annual revenue of Apple Inc in 2014 was estimated to be US$182 billion. This was attributed to the fact that Apple products have loyal consumers. The report in 2014 shows Apple as one of the world’s most valuable brand, this was a result of having a valuation of $118.9 billion (Market Watch 1). Some of the factors that have also contributed to the growth of the revenue of Apple Inc include the constant supply of fresh new product in the market to satisfy the customer needs. The company has had a stable market share in Europe and America, but in the recent past the company has been venturing g into other markets in developing countries that have shown potential for consuming the Apple products. This been able to contribute significantly to the increase in the revenue of the Apple Inc company. Number of domestic (U.S.) employees and address of corporate offices Apple Inc has been able to create employment among the US population, and Apple has been able to create 514, 000 job in the US domestic market. Apple has directly employed 47,000 workers in the United States, and the company in its official website also states that it is responsible for other 257,000 employees outside its firm but within the United States. These 257,000 employees are based from the point of glass manufacturing at corning up to the point where the products are being delivered (Connie 1). Apart from that, Apple also claims to have 210, 000 employees within United States who include retailer. This number of employees adds up to 514, 000. Apple Inc has two major corporate offices within USA, and this office serves as the company bases of operation. The first corporate address is the Apple Campus, and it is at 1 Infinite Loop in Cupertino, California. The office design resembles a university building. Apple Campus 2 is another corporate office that is used by Apple Inc. The office is at 19111 Prune Ridge Avenue Cupertino, CA 95014 in California in the United States. The corporate offices are located strategically at appoint where there is easy coordination of all the process and activities that are being carried by the company (Connie 1). History of Apple Inc Apple was established on 1976 April, and the co-founders of Apple Inc. were Steve Jobs, Ronald Wayne and Steve Wozniak. The reason behind the establishment of Apple Inc. was to develop and create a supply of personal computer kits. Wozniak single handed developed and designed the first Apple kit. Apple got incorporated in January 3rd, 1997. The incorporation occurred without Wayne. This happened when Wayne had already sold his shares to the other two co-founders. Over the years, Apple had developed a variety of products. In 1980 December, Apple went public, and each share was sold at $22 per share. At that period, Apple generated more capital than any other IPO that, through this, Apple was able to create instant millionaires than any other company in the world (Los Angeles Time 2). The first Macintosh was launched in 1984. It was the first personal computer to have no programming language. In 1995, there was a power struggle between Jobs and the then CEO Sculley John. Macintosh LC was released in 1990. During this period, Microsoft was Apple’s rival as it offered products at a cheaper price. In 2007, Apple Computer Inc was changed to Apple Inc. This was because it had changed its products from computers to mobile device production. It is during this time that iPhone was launched together with the Apple TV. In 2010, Apple launched iPad. In 20111 Apple purchased C3 Technologies, this was a mapping company ((Los Angeles Time 2). Apple Products Apple Inc. Corporation has a variety of products that it offers to its consumers. All Apple products are electronic. These products have been made using advanced technologies that are unique to Apple Inc. A majority of the products offered by Apple range from mobile devices, computers and TV. Mac is one of the Apple products. Mac has various models that have been designed for different uses. They include Mac Book, which has a variety of products from this line that include Mac Book Air, iMac Pro and Mac Pro. iPad is another product being sold by Apple. This was introduced in 2010. It uses the iOS as it operating system. It is a product that offers a multi-touch interaction that includes various formats of multimedia such as eBooks. iPod is an Apple product that was released in 2001, and it is a digital music player. There are several models of iPod that have been produced by Apple Inc. iPhone is a Smartphone device that was first launched by Apple in 2007. Since its launch, there has been a subsequent launch of this brand of phones. Each type of iPhone has its unique features, and this product is among the best Smartphone in the market. It is one of the products by Apple that has a market both in United States and globally. iPhone has received huge consumption with its biggest market being in the USA. Apple TV, this product was launched in 2007. The product can be used by` as link or sync to a wired network of Wi-Fi. The TVF originally had a 40GB memory. But this was discontinued in 2009 with the launch of Apple TV with 160GB. Apple Watch, this is a smart watch that was launched by Apple in 2014. The Apple is planned to be on 2015 April 24th. The product has various features that include fitness-tracking capabilities, and the watch has to be in combination with iPhone for it to function. Electric vehicles, this is a product that has not been released yet, Apple plans to produce electric vehicles by 2020. Software production, Apple Inc develops its operating system. This OS is designed to run on Apple Macs. This makes Apple Inc. software producer (Los Angeles Times 3). Name and history of the current CEO of Apple Inc. The current CEO of Apple Inc is Timothy Donald Cook. Cook was born in 1960, and he is an American business executive. Cook joined Apple in 1998, and he joined and served the position of Senior Vice President of the worldwide operations. He was named the Apple CEO in 2011. Cook also serves on a board of directors of Nike Inc and the National Football Foundation. Before joining Apple, Cook had spent 12 years in IBM as a personal computer manager, and later served as the ultimate director of the North American Fulfillment. After some years, he served as COO of Intelligent Electronic in the department of computer reselling (Forbes 1). Apple Inc. Competitors Samsung Electronics Samsung electronics in a multinational conglomerate company and it is based in Samsung Town in South Korea. It has many subsidiaries in with most of them, being under the brand of Samsung. It was established in 1938 by Lee Byung-Chul as a trading company. Initially, the company had a diversified production that included the production of food, insurance, textile among others. In the recent past, Samsung has become a major producer of electronic components for many companies such as Apple Inc. It produces lithium-ion batteries, chips, hard drives among other products. Recently Samsung has launched one of its successful mobile device products, Samsung Galaxy brand, and the company also produces tables. The launch of Samsung Galaxy S mobile handset was seen as the naming competitor to iPhone mobile being produced by Apple Inc. The product sold over a million units within a period of 45 days. In 2012, Samsung had a market share of 23.8% while Apple Inc. had a market share of 14.4% globally. Samsung has become the world biggest mobile phone producer with the shipment of over 95 million smart phones in every first quarter of a financial year. Samsung has revenue of 33.66 billion US dollars (Bloomberg 2). BlackBerry Company Blackberry is among the leading mobile communications companies in the world. Blackberry Company was introduced in 1999. It is headquartered in Waterloo, Ontario in Canada, and the company operates under “BB” trademark. The company was known as Research Motion Limited Company. It majorly deals in production of blackberry Smartphone. The company has had a poor performance in the market in the recent years because of improved performance by Apple Inc. and Samsung. In 2014, the revenue for blackberry was approximately $976 million, and this is a drop by $217 million which represents 18% drop. In 2013, it had revenue of $2.7 billion, and this shows that the performance of the company has been slowly declining (Ortutay 4). The Current article on Apple Inc The article reviewed is about Apple Inc. allowing its customers to try the Apple watch before it release on April 24th, 2015. This provision has been made because the Apple product is different from other products that are being offered by Apple. The article gives the features of the watch to as hinted by the company, some of the features are, and it has the performance ability similar to iPhone products. The watch comes in a variety of colours and size aimed at satisfying a wide range of customers. The company has altered the retail of its watch because of the unique conditions involved in buying a watch. The article gives insight on the expectations of the company in terms of demand for the Apple watch. It captures the CEO of Apple Inc. noting that, the demand for the watches might to some extent be more than the expectations of the company. The initial order for the Apple watch will be online, this will be to enable the consumers have a real experience. This move has been anticipated by the fact there are some fake Apple watches already in markets such as China (Chen, 1). Conclusion From the reviewed report, Apple Inc. is one of the most successful companies in the United States and the world. It offers different products with different features to consumers who have a variety of tastes which has made the company introduce new products constantly into to the market. Apple Inc. has a rich historical background that has seen it rise to the top, and the background is characterized by innovative products and management by brilliant personalities who spearheaded the invention of its unique products. The company has been able to experience revenue growth, and this has made among the most successful companies in the electronic business. The company has faced various competitions from other big electronic companies. It has been able to survive the competition by producing competitive products that meet the current needs of consumers and also creating a brand loyalty among its target population. Therefore, in conclusion, this report has given insightful details of the Apple Inc. company in regard to all the aspects that are related to it internally and externally. References Bloomberg. Samsung Electronics Co., Ltd Financial Statements. 2014, May Retrieved 2015 April 13. http://en.wikipedia.org/wiki/Samsung_Electronics#cite_note-36 Connie, Guglielmo. Apple Touts Itself as Big Job Creator in the U.S. 2012. Retrieved 2015,April 13. http://www.forbes.com/sites/connieguglielmo/2012/03/02/apple-touts- itself-as-big-job-creator-in-the-u-s Market Watch. Annual Financials for Apple Inc.  2015 May. Retrieved 2015 April 13. http://www.marketwatch.com/investing/stock/aapl/financials Los Angeles Times. Apple Inc. finally joins ranks of the Dow's elite 30 stocks.  June 3, 2015. Retrieved 2015, April 13. http://www.latimes.com/business/la-fi-apple- dow-att- 20150307-story.html Federal Reserve Bank of Minneapolis.  Consumer Price Index (estimate). 2014 Retrieved 2015, April 13 https://www.minneapolisfed.org/community/teaching-aids/cpi- calculator-information/consumer-price-index-1800 Forbes. Timothy D. Cook Profile.  2104. Retrieved 2015, April 13 http://www.forbes.com/profile/tim-cook/ Business Week. How Samsung Became the World's No. 1 Smartphone Maker. 2013. Retrieved 2015, April 13 http://www.bloomberg.com/bw/articles/2013-03-28/how samsung-became-the-worlds-no-dot-1-smartphone-maker#p2 Ortutay, Barbara. BlackBerry launches Classic in last-ditch effort. 2014. Retrieved 2015, April 13 Chen, Brian. Ahead of Watch Release, Apple to Allow Customers to Try It On. 2015. Retrieved April 13, 2015. http://bits.blogs.nytimes.com/2015/04/09/ahead-of- watch- release-apple-to-allow-customers-to-try-it-on/?ref=topics&_r=0 Appendix: Apple Inc. CEO Timothy Donald Cook Read More