Apple still the top dog of consumer electronics in US
“A king has its reign.. and then he dies..” Any sci-fi buff would recall these words said by Charlize Theron from the movie Prometheus. Now it may sound dramatic, but revenues and market shares in consumer electronics arena work in the same way. Sounds shady? Allow me to explain….
THE THUMB RULE
Now it’s a given fact that technologies are ever-evolving these days and in a market of expectant and enlightened consumers, a brand has to continuously innovate to retain its foothold in the arena, In other words, it’s an epitome of Charles Darwin’s “Survival of the Fittest”. No one company will ever be at the top of the queue and no single product will rule the roost forever. Let’s look at it in the form of factual hypothesis –
Brand 1 researches all the market trends, user expectation and the available resources to tap into as well. With the groundwork in place, the brand starts off with acquiring those technologies, re-engineer and tweak it and then bring out a product which is ground-breaking in every aspect; case in point, Apple’s iPhone. Then come the competitors who analyze the success and working of Brand 1, uses a different platform to achieve the same end result while making their products more appealing in terms of added features, flexibility and cost effectiveness i.e. Android Smartphones.
THE CYCLE OF CHANGE
The launch of iPhone revolutionized the way we perceived Smartphones. But it was a monopoly at the time. Soon after other brands followed suit and exactly at this point in time, the popularity of iPhone has somewhat waned with Androids and WPs making a fulsome splash.
And with the patent lawsuit between Apple and Samsung that put a blotch on Smartphone market in general, Apple has had to bear with a lot of stick for its action. But if the revenue generation and market share stats in US consumer electronics is anything to go by, then Apple still is the reliable and popular king of the hill with a convincing 20% stake.
While this is good news for the Cupertino giant for the current term, it would be interesting to see if they are able to retain and sustain their foothold in post-Steve Jobs era. The man was an enigma with his spontaneity and ruthless “I against the rest” approach and his absence is sure to play a part in the company future. Better or for worse, only time will tell…