Staying alive in world of ITApple Inc. released stunning second-quarter earnings thanks to worldwide popularity of its iPhone and iPad devices. Revenue and net profit surged 82 percent and 125 percent, respectively. The technology company’s net profit of $7.31 billion nears that of major oil companies. Steve Jobs, Apple’s chief executive, said in a statement, “We’re thrilled to deliver our best quarter ever.” At the current growth rate, Apple could pass Exxon Mobile Corp. to become the world’s largest company in market value this year.
At first glance, Apple’s surge is powered by its banner products. Sales in Asia tripled from a year ago. But its overall success is credited to its unique business habitat. The company’s remarkable revenue comes from devices in union with its own software. It provides a worldwide online content sales network through Apple stores and iTunes.
Apple will likely dominate the technology stage for some time. Tim Cook, chief operating officer at Apple, has been leading the technology giant while Apple’s iconic CEO is on medical leave. The company has already secured millions of loyal customers around the world, hooked to the cutting-edge designs and capabilities of its digital gadgets. Apple is not like the other manufacturers that market new products and wait for them to sell. Instead, it tantalizes us with products customers can’t wait to buy.
Other digital technology companies are moving fast to counter Apple. The computer industry has been on edge after Apple unveiled a cloud service. Its iCloud software is a complete suite of services that store and retrieve Apple applications to strengthen exclusiveness of the Apple habitat interconnection between MacBooks and smart devices. It has the ultimate aim of replacing personal computers. Microsoft and Nokia announced a partnership to launch cloud-based services by the end of the year. Samsung Electronics joined up to stay in the game.
The battlefield of digital devices is turning fiercer. The leader can take all and the rest could end up as supply providers. Korean companies must unite to keep Korea Inc. afloat. Good parts and production skills are insufficient to sustain Korean companies. They must come up with hardware, innovative software and business applications and services to win the hearts of customers around the world. Business partnerships with other global technology companies are essential. Nokia, Motorola and Research In Motion have fallen behind. Our companies could be next.