Apple would never have imagined that the year 2010 will bring such ups and downs for them; it’s been heck of a rollercoaster ride for them this year. Let’s have a look at their journey so far this year:
Success of iPad
After the announcement of Apple’s iPad back in January this year with a price tag of US $629, everyone feared it to be a failure. On the other hand Apple seemed to have a perfect plan for the launch of iPad.
Apple officially released the iPad on 3rdApril 2010 but they had already started taking pre-orders mid of March. iPad got an overwhelming response from the buyers and it became an instant hit by selling 300, 000 iPads on the day of availability and went on to sell a million iPads by May 3, 2010.
It got mixed reviews from the media but most of them have generally been favorable. A journalist of The Wall Street Journal called it a “pretty close” laptop killer. Later in the month of May iPad was released internationally where it got positive feedback from fans and media.
Apple overtakes Microsoft to become the world’s most valuable Tech Company
Apple’s market cap surpassed that of Microsoft for the first and became the No. 1 technology company on May 26, 2010. Apple market cap stood at $222.1 billion, where as Microsoft’s market cap value dropped to $219.2 billion.
It was indeed the most remarkable moment to see the software giant, Microsoft slip to second spot as the most valuable tech company. It was the biggest turnaround in the business history on Apple Inc.
Release of iPhone 4
Apple announced iPhone 4 on June 7, 2010. Everyone was waiting for the release for the iPhone 4 anxiously and it was successfully released on June 24, 2010. On June 15, 2010 iPhone 4 was made available for pre-orders, it was such a huge success that Apple received 600, 000 pre-orders for the iPhone 4 in the first 24 hours, it was the largest number of pre-orders Apple had ever received in a single day.
Well the happiness was short lived for Apple as it started receiving complaints from users regarding low network reception, iPhone catching fire while charging it through computer USB port and other issues, which lead to the negative publicity of the product.
The worst was yet to come, when an influential US magazine criticized the Apple’s iPhone 4 due to which company lost $9.9 billion of their market cap value.
iPhone 4 Recall
The criticism over the low signal reception has forced the company to recall all the faulty iPhone devices, according to the analysts this move could cost company over $1.5 billion.
Apple’s emergency Press conference
Apple has announced a press conference on Friday, July 15, 2010, where they will be discussing the iPhone 4 issues.
The company already faced a lot criticism for ongoing issues with the iphone 4. Many users reported loss of signal when they hold the phone in their left hand, covering one of the antennas. Some users also reported call dropping.
Apple says that these are the common mobile phone problems, on the other hand Steve Jobs replied to one of the customers email and told him to hold the iPhone in a specific way as a solution to low signal reception issue. Well done Steve but that will not do.
The company has been through bigger problems in the past decade when they were close to going bankrupt and ironically they are now the biggest tech company in the world today.
They need to take some serious steps to address the ongoing issues with iPhone as there is less than a week left for the Apple’s quarterly earning call. That makes this press conference very crucial.
“I hope they come with a solution where everybody wins, the company is indeed under a lot of pressure because being the No.1 tech company they will have to live upto the expectations.”
Can iPhone 4 bounce back with a bang?
iPhone 4 is already a hit as it sold more than 1.7 million units within the three days of the release of the iPhone. Moreover the improved features like Dual camera, High resolution screen, HD video recording, Multitasking and 5-Megapixel camera with LED flash. These features make the iPhone best amongst the smartphones in the market right now. The iPhone 4 is unbeatable in its class, I’m sure the company will come up with solutions to tackle ongoing iPhone 4 issues. We can surely expect the sales to rise again as soon as these issues are resolved.
In the worst case scenarios if company fails with iPhone 4 then I guess we will have a completely different story all together because that will surely make a big impact on the share value of Apple and will also impact the perception of Apple’s consumers and fans.