Essay About New Iphone X And Real-Time Scenario

The Cell Phone and Communication Industry
Essay Preview: The Cell Phone and Communication Industry
Report this essay
One of the most profitable markets and industries in the world right now is the cell phone and communication industry. Companies such as Samsung, Microsoft, and google have taken advantage of this economically persuasive market, and have capitalized on providing top of the line products to the consumer to make a profit. The ability to send messages, facetime, and talk to each other for social and business purposes in a real-time scenario allows company’s to be more efficient, independent, and create more profits in shorter period of time. One company that stands out above all others in creating a perfect image of a product that meets all the demands of the consumer and continuously has the most cutting-edge technology is Apple.         Apple has recently released the new iPhone X to the market, and to no one’s surprise has shown a massive profit to the company and more importantly to its shareholders. This in turn has increased the price of an Apple share to an all-time high record of $177 a share. The demand alone from loyal and new customers surpassed the retail supply of iPhone in that “shipment times for the iPhone X take up to 5-6 weeks within minutes of Apple opening pre-orders, where they have held over the weekend” which is a significant amount compared to the “2-3 weeks during the iPhone 7 plus launch and the 2-4 weeks during the iPhone 6 and 6s launch.” The company’s ability to successfully market and sell their products in a way that maximizes profits puts Apple on a pedestal compared to its competition in that its goals of providing an amazing product while maximizing profits has created them into a multi-billion-dollar company. [1]        To analysis the Apple Company further into why they are so successful I believe it’s important to compare their dominance to the five forces framework pioneered by Michael Porter. The categories of entry, power of input supplies, power of buyers, industry rivalry, and substitutes and complements are all elements that make Apple a dominate force. They have proven to have a solid reputation, beaten most government restraints when regarding their overseas jobs, provide the most up to date and new technology to customers while at the same time understanding what the competition is providing, and lastly understanding what the maximum amount of money a buyer is willing to spend on their product.[2] One of the incentives and attractions Apple does is provide an interest free monthly payments on their phone, and they also have introduced a transfer program which allows consumers to trade in their half paid off phone for a newer version without penalty or owing debt off the older model phone. This not only increases the number of consumers who can afford the phone, but makes it more marketable as a reasonable priced phone.