10 Key Ingredients That Have Made Apple So Successful
1. The iPhone
Apple's iPhone 4S proved quite effectively that the company's smartphone is the central reason it's so profitable. Apple sells tens of millions of iPhones every quarter, and considering it does so at significant prices, it's generating a ton of revenue. Without the iPhone, Apple wouldn't be nearly as profitable as it is now.
Apple is one profitable company. The firm announced recently that during the fourth quarter (its fiscal first quarter), it generated a whopping $46.33 billion in revenue and a profit of $13.06 billion. The company's revenue figure nearly doubled the sales it posted in the same period back in 2010, and its profit was more than double the figure in the prior year. All that has helped Apple grow its cash coffers to nearly $100 billion. Apple's success is a far cry from its sad state of affairs back in the 1990s. At that time, co-founder Steve Jobs had to step in to fix things, and there was a point when industry observers weren't sure if Apple's doors would be padlocked or not. But through hard work, tough choices, and some really neat ideas, Steve Jobs was able to turn things around at Apple. Now, the company is the world's largest, and its profitability is soaring. How has Apple achieved such profitability? Here's a look.