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Tim Cook Was Named Apple’s CEO 10 Years Ago & Here Are His Biggest Achievements
In 2012, Apple appointed Tim Cook as the new CEO of Apple and since then the company has grown tenfold if not more. After his appointment, Apple went on to become a dominant force in the consumer technology space with innovative products and services. We look back at some of his biggest achievements while he was at the helm of the world’s most successful tech company:
The Most Successful Company In The World
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In the past ten years, Apple became one of the most successful companies in the world, reaching a total worth of $1 trillion. Cook achieved the unthinkable by introducing new products, new iterations of the iPhone and more focus on services. Wall Street values the company just under $2.5 trillion. The company made $57 billion in profits with $274.5 billion in revenues last year even though the pandemic raged throughout the world.
Introducing More Products
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Apple was known to offer limited products across its portfolio that included iPhones, consumer laptops, desktops and iPad. Under Cook, customers got more options in each product segment including four models of iPhones. The company also offered different types of iPads for different types of purposes which was not the case before Tim Cook took over the company.
Apple also sells two different versions of the Apple Watch which made it one of the most successful products in Apple’s portfolio. Apple then went on to dominate the TWS space with the AirPods, AirPods Pro and AirPods Pro Max.
Focus on Services
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Tim Cook also focused on offering services for Apple users that now includes an OTT platform, a gaming subscription, news, cloud storage and music. Apple’s services brought $17.5 billion last quarter, up by 33% from $13.2 billion in the same quarter a year ago. Apart from making the hardware business profitable, Cook managed to create a profitable business in the services space as well which is now being emulated by its competition. To put things into perspective, Apple’s services business is as big as a Fortune 500 company by itself.