This week Tim Cook gets his chance to step into the limelight, after replacing Steve Jobs as CEO of Apple. Tomorrow the company are holding a large media event to showcase the new iPhone.
Whether you like Apple or not, you have to give them credit for being able to create a buzz, and for their marketing excellence. The new iPhone 5 is the first time that Cook has a hot new product to unleash, so as many eyes will be on him, as the new product.
The iPhone 5 is likely to sell millions of units in a very short period of time because Apple’s products have such a hardcore group of fans that global recession seems almost a secondary concern. With a faster processor and bigger screen, it should create enough of a talking point to lure wary customers into local stores and into the online store.
The iPhone 4 sold 20 million units in the third quarter alone, so it is a huge cash boost for the company, who are hardly struggling financially as it is.
Channing Smith, a co manager of the Capital Advisors Growth Fund, spoke to Reuters “Consumers view Apple products as a must-have, Apple phones and products have become almost a necessity. We don’t expect them to falter.” highlighting the companies ability to ride technical issues, such as the widely documented antenna problems, without a problem.
Some analysts have minor concerns that sales might not be so positive, due to the world economic state in recent months. A few have suggested that unless the phone dramatically changes then a portion of consumers will be happy staying with the previous generation. Let’s not forget that the challenge from Google Android smartphones is rising, with over half a million products activated every day.
While many eyes will be on the product, Tim Cook will be watched closely, especially by the Apple faithful who have admired the iconic Steve Jobs for the last decade.
Kitguru says: There have been some rumours that Jobs might make an appearance, although we would feel this might be unlikely, after all the time has come for Cook to be seen as the ‘new leader’.