For the last decade or so, Apple has been at the forefront of technology development and innovations. With their series of iPhones that has reached its 9th edition alongside their wide range of desktops and laptops, Apple has always dominated the tech division making it the first public company to value at $1 trillion in 2018.
The main problem for Apple now is that the iPhones are just not enough to keep the company afloat in the market like it has been doing for the majority of the last few years. Which is why moving forward from now, Apple is shifting their focus from just developing hardware to a more diverse line of services. Tim Cook, the CEO for Apple during their Key Note Event in March, 2019 announced a series of new products that will be launched this year ranging from an Apple Credit Card to their very own original premium video streaming, Apple Tv Plus. Alongside this, they are also launching an-all-you-can-read magazine bundle, Apple News Plus and Apple Arcade, a subscription video gaming service.
Though iPhone will remain as one of Apple’s core products—the company will also be venturing into various other services that will include everything from App Store sales to AppleCare purchases to iCloud subscriptions—that will inturn drive the company’s revenue. With this, Apple is rebranding themselves as Digital Services Company rather than a tech company.
So watch out for the latest services provided by Apple. It will be rather interesting to see the company compete with various existing giants in the streaming industry, be it the current market leader, Netflix or Hollywood giant Disney making its debut into the streaming field or their tech rival, Amazon. Either ways, the next few months will be the cornerstone for the Company in defining its way forward.