Essay on Apple : The Market For The Financial Crisis
In the context of the recession UK is recovering from, after the financial crisis in 2007-08, the income of the overall population has fallen by 3.8% (Middle Income Households, 2013). Consequently, it is understandable that people would spend more on satisfying their basic needs and in that context expensive smart devises might not be one of them. On the other hand , Apple’s report for the fourth quarter of 2014 shows that the sales of iPhone, Mac and App Store record strong revenue and earnings (Apple.com, 2014). According to a research, in recession firms that have innovated at some point in the past are able to survive and flourish (Vaitilingam, 2013). Given the hard economic situation, Apple will have to work hard to make the watch appealing first to customers who already use Apple products.
Although Apple is not the first in the market for smartwatches, company’s sense of innovation is expected to give their new product the competitive edge which will potentially bring them success. Apple Watch is meant to be very personal- the Heartbeat and Sketch features provide information about the blood rate and activities of the user, making it the first wearable device with such functions. In this product the company for a first time introduced the Force Touch and the Retina display, which also senses force. Although there were concerns in the public that the Watch won’t be suitable for left handed, these were not justified because the main body of Apple…