Apple is now the most valuable tech company on the planet. In fact, the Cupertino firm is worth $100 billion more than Microsoft and Google, its next closest competitors. According to TechCrunch, Apple is “a little over $90 billion away from becoming the overall most valuable public company in the world.”
Impressive, especially when one considers that the company was six weeks away from filing for bankruptcy not so long ago. So what is the secret behind Apple’s turnaround?
I have long maintained that there are no real secrets to Apple’s success. The company creates simple, stable products that people want to use. They engage in brilliant marketing and advertising campaigns to promote consumer electronics that are well designed. Nokia CEO Stephen Elop mentions Apple’s success in his infamous “burning platform” memo.
Apple demonstrated that if designed well, consumers would buy a high-priced phone with a great experience and developers would build applications. They changed the game, and today, Apple owns the high-end range [of smart phones] . . . The first iPhone shipped in 2007, and we still don’t have a product that is close to their experience.
The focus on experience is telling here. Apple’s emphasis on design and usability creates products that are both stylish and enjoyable to use. There is a “cool factor” and a “fun factor” embedded in all of Apple’s devices. Simply stated, Apple designs, builds, markets and delivers technology that people love to use. The positive emotions users feel when using Apple technology results in increased and repeat sales.