Apple's iWatch

Apple usually stays on top of the game. But on September 4, 2013 Samsung released the "next big thing" in the market, the new Samsung Galaxy Gear, a Smartwatch. This is a completely new product, long anticipated by the audience. Even though it received mixed reviews- given the fact that it is a new product in the market and there is always a space for improvement, the idea is pioneering and unique and cannot be ignored by the Colossus known as Apple. Unsurprisingly, rumors have grown for Apple's next big event that is going to take place in October of 2014. Apple is expected to release the Apple iWatch along with the new iPhone, as a quick response to Samsung's Smartwatch. Currently, Apple is in the development stage of this new product and the only information we have is with regards to a prototype. Changes are going to be implemented for the final product, and so we can only make assumptions in the current phase. Rumors have it that the new iWatch will feature a 100mAh battery and the ability to charge wirelessly within a meter range from the charging point.

Apple Announces Holiday Ordering Deadlines

Were you too busy with Thanksgiving celebration that you didn’t have time to make plans to buy your favorite Apple product on Black Friday? Lucky for you Christmas, with its many deals, is around the corner. If you’re going to buy an Apple product this holiday season, I highly recommend you use this time to plan your shopping in advance so that you avoid dealing with the nightmare of after Christmas deliveries during the busiest season of the year. Fortunately, Apple recognizes the anxiety faced by every consumer during this beautiful holiday, and is making sure to make your Apple shopping experience as pleasurable as adding another ornament  to your Christmas tree.

The company has updated its U.S. Online Store with a guide that depicts important ordering deadlines for Macs, iPads, iPhones, iPods and accessories for delivery by December 24, 2013. Deadlines differ from one product to another. For instance, Apple’s Next Day Shipping is available for limited products only. For more details, read my list below:

iPad Air: If you are interested in this product, order your full-size tablet by December 9 for a December 24th delivery.

iPad mini and iPad 2: If you are interested in these two products, place your orders by December 18.

iPad 2: If you are interested in this product place your order by December 17th.

iPhone 5s: If you are interested in this product you must place your order by December 12th- Apple does not offer Next Day Shipping for the flagship iPhone.

For all iPhone models, ordering deadlines are “for qualifying customers only,”

Now if you are not in a hurry and you decide to place your order after December 22nd Apple is providing you with a small surprise!; Free shipping with no minimum order value.

For more information, please take a look at the corresponding pictures.

 

Ch. 7 - Business Marketing

When I first enrolled, at the Borough of Manhattan Community College, its' main building was mostly equipped with computers that ran mainly with Microsoft Windows software. Two years later and this trend is clearly changing. The college is purchasing more and more computers from Apple Inc. , such as the new iMac desktop which runs solely with OS X. In the past, Apple was traditionally marketing its products towards consumers instead of businesses. On the contrary, Microsoft's main target market is businesses. In the real life example given above, we can now see that Apple is focusing on business marketing as well. Thanks to a constant increase in its popularity, Apple sees business marketing as an opportunity to expand its B2C market to a market that includes B2B sales and profits. Apple's new market vision is anything but simple. Competition with a giant colossus like Microsoft, can prove to cause much  distress in the near future. Nevertheless, business marketing is an appealing field for Apple, which despite its challenges, cannot be ignored.

Ch. 8 - Segmenting and Targeting Markets

In order for Apple to meet the needs of its target markets, it has to first successfully divide the specific market into meaningful, relatively similar and identifiable segments or groups. One of the strategies that Apple is using to segment its markets is referred as geographic segmentation. Apple, in the USA, locates its retail stores based on the population and the density of each state. For example, in  California, the most populous state of the US, Apple currently hosts 52 retail stores, whereas in less populous states such as Maine, Apple hosts as little as one store. Two addition strategies that Apple uses to further segment its market are known as demographic and psychographic segmentation. Demographic segmentation is of great importance for a company because it targets groups of people based on their age, gender, income, ethnic background and family life cycle. Every segment of this subgroup has different interests and needs which poses great challenges for Apple's marketing managers to effectively weave marketing mixes appropriate to meet the needs of this segment.  But, it is the psychographic segmentation that is based on the personality, motives and lifestyles of a group that paves the road of success for Apple. Apple, is known for its efforts in creating stylish, elegant and upscale products, such as the colorful iPhone 5C which besides having a large variety of features satisfying every personality regardless of its motives or needs. It also allows you to choose a plastic body of the color that fits into your unique lifestyle. Apple in this segmentation is trying to appeal to low or high income groups, teens, adults and baby boomers and ultimately improve every lifestyle, no matter its diversity.

37 years of Apple

Almost four decades ago the two Steves started what is known today as Apple Inc.  Thirty seven years later what was once an idea is now rated by Interbrand as the world's "top brand," overthrowing Coca Cola from the top of the list. Today Apple is considered by many consumers as the most valuable brand in the world,  enjoying higher rates of consumer satisfaction and loyalty than any other company in the world.  Celebrating its 37 year anniversary, I gathered a chronological timeline of the most important historic points of Apple's journey to share with you.

1976: Wozniak and Jobs create the Apple I.

1977: Apple unveils the Apple II.

1978: Apple introduces interface cards for connecting its computers to most printers.

1979: May Software Arts unveils VisiCalc, an electronic spreadsheet.

1980: Apple FORTRAN is introduced.

1981: Steve Jobs joins Raskin’s Macintosh project.

1982: Apple rolls out the Apple Dot Matrix printer.

1983: Apple introduces the Lisa; releases the ImageWriter printer.

1984: The landmark “1984” commercial introduces the Macintosh during Super Bowl XVIII; Microsoft releases Word 1.0 for Mac; Apple ships the Macintosh 512K.

1985: Apple releases the Apple LaserWriter; Apple introduces the ImageWriter II, the HD-20 hard disk, and the Apple Personal Modem; Apple officially discontinues the Lisa, now named the Macintosh XL.

1986: Apple releases the Macintosh Plus. The first Mac to include a SCSI port.

1987: Macintosh II—which is both the first color Mac and the first NuBus Mac—debuts.

1988: Microsoft launches Windows 2.03, featuring Mac-like icons and overlapping windows.

1989: The Beatles’ Apple Corps recording company sues Apple Computer for marketing products with music-synthesizing capabilities.

1991: Apple announces QuickTime, a new system-software architecture for the integration of dynamic media..

1993: A federal judge dismisses Apple’s Windows 2.03 suit against Microsoft. The decision is upheld on appeal.

1994: PowerPC processors make their Mac debut, with the release of the Power Mac 6100.

1995: The Supreme Court declines to review Apple’s copyright-infringement case against Microsoft, ending the seven-year legal dispute.

1996: Internet Explorer 2.0—the first Mac version of Microsoft’s Web browser—ships; Apple gets into the multiprocessor game with the dual-180MHz Power Mac 9500. Apple won’t release another dual-processor machine for four years.

1997: To mark its 20th anniversary as a company, Apple releases the 20th Anniversary Macintosh (price: $10,000).

1998: Apple unveils a revised OS strategy, changing the name of its next-generation OS to OS X.

1999: The G4 chip becomes the processor for Power Macs.

2001: Apple enters the portable-music business, unveiling the first iPod music player.

2002: OS X becomes the default operating system for all new Macs.

2003: iLife—a suite that includes iPhoto, iDVD, iMovie, and iTunes—debuts, along with Safari, an Apple-built Web browser.

2004: Apple expands its iPod offers to include the slender—and colorful—iPod mini.

2006: The first Intel-based Macs—a flat-panel iMac and the portable MacBook Pro—arrive.

Ch. 11 - Developing and Managing Products

For millions of Americans consumers, Apple undoubtedly holds the title of the most innovative company of the 21st century. For that reason, Fast Company, has rated and ranked Apple as one of the most innovative companies based on "the ability to buck tradition in the interest of reaching more people, building a better business, and spurring mass-market appeal for unusual or highly technical products or services." Innovation always has been Apple's top priority. As such, the word innovation is often times associated with Apple. In order for Apple to sustain growth and increase revenues and profits it has to constantly introduce new innovative products in the market. One of the greatest innovations of Apple was the release of the iPhone in 2007. It is a Smartphone designed to run Apple's mobile operating system. Apple, 6 years later, still continues to fascinate its consumers with their most recent innovative releases of seventh-generation iPhones, the iPhone 5C and the iPhone 5S on September 10, 2013. The new products feature new designs such as the plastic case of the Iphone 5C, the fingerprint reader, an improved camera sensor and a dual-tone flash. These are surprising, cutting-edge and truly useful enhancements that didn't exist before. With the immediate positive feedback and reviews like “With the 5c, Apple achieves an unprecedented level of synergy between hardware and software.” and “With the iPhone 5C Apple may well have created what will prove to be the most popular smartphone in the world” Apple was able to sell a record-breaking nine million new iPhone 5s and iPhone 5c models, just three days after their launch. As Apple's products continue to be perceived as unprecedentedly innovative, Apple will continue to hold the lead among the most admired companies worldwide.

Black Friday Deals on Apple Products

Black Friday is around the corner. Many of us, including myself are waiting impatiently for the advertising of the new upcoming deals. Like previous years Target, Walmart, and Best Buy will all be offering discounts on popular Apple products like iPhones, iPads and MacBook Pros. I have gathered all the new current deals through their sites and decided to share them with you. Apple as well as other retailers are expected to announce their deals within the next two weeks.

Best Buy:

- $50-$70 off iPad Air
- $100 off 16 GB iPad 2
- $48 off iPhone 5c
- $200 off 21.5-inch iMac
- $200 off 15-inch Retina MacBook Pro
- $50 off 32 GB iPod touch
- $15 off Apple TV
- $20 off AirPort Extreme
- $15 off $100 in iTunes Gift Cards

Target:

- $75 gift card with the purchase of any iPad mini
- $100 gift card with the purchase of any iPad Air
- $50 Gift Card with the purchase of a 16 GB 5th gen iPod touch
- $10 off Apple TV
- $60 in iTunes Gift Cards for $50

Walmart:

- $75 gift card with the purchase of any iPad mini
- $100 gift card with the purchase of any iPad Air
- $50 Gift Card with the purchase of a 16 GB 5th gen iPod touch
- $10 off Apple TV
- $60 in iTunes Gift Cards for $50

Sam's Club

- iPhone 5c for $0.96

Ch. 18 -Social Media and Marketing

With an increase of social media use across the globe, industry giants such as Apple Inc, could not ignore its tremendous influence. Industries that neglect the power of social media, soon will be left behind. On the other hand, for companies like Apple, social media is seen as a great opportunity to boost their sales and improve the overall image of their company. Social media facilitates conversation over the internet, and makes it easy for consumers to share experiences about their product or company. Positive or negative feedback can instantly effect the reputation of a firm. With that in mind, Apple Inc. is continuously increasing their digital advertising investments. Last year, Apple spent US$933 million (Dh3.42 billion) on global marketing efforts, up from 35 per cent in 2010 and nearly double the $501 million it spent in 2009. Apple is also taking the benefits of social networking seriously. Currently, it has tens of thousands or even millions of followers in sites like LinkedIn, Facebook and Twitter. With the participation in these sites, Apple is trying to educate potential customers about their current products, products people may not have otherwise known the company carried, or  for their new upcoming releases. Even though Apple, is a well established brand and is known throughout the world, it continues to reinforce their brand by using social media along with traditional means of advertising. Social media is a fantastic way for Apple to gain brand awareness and extend its market reach far beyond the realm of traditional advertising, that is all around the world.

Ch. 10 - Product Concepts

Apple's products, like every other company's products, are the starting point in creating a marketing mix of an organization. This is why products are the most important aspect of a firm, regardless of its size. Whether or not a product is going to turn into a successful consumer's product depends on many factors such as price, design and promotional strategy of the marketing mix. Apple's products are divided into two categories, shopping products and specialty products. Apple's new IPhone 5C, 5S and Ipad Air are shopping products which means they are of moderate price and require research, compare and contrast, and evaluation of product information by the customer before the actual purchase is made. On the other hand, what happens when there are consumers that consider Apple's products so unique that they would go as far as staying out in the cold for hours or even sleeping on the street overnight, to be the first people to try Apple's new releases? These are the products that are categorized as specialty products. Specialty products, have gained the absolute trust of a consumer. Examples include, Apple's Mac Pros and Airs. No comparison needs to be made in this category since the consumer has already made up their mind. Therefore, the high price or the research required before buying a product is of little or no importance.  Although, we recognize that Apple's products are more expensive that its competitors, Apple's efforts in creating stylish, elegant and upscale products have helped the company to create an unprecedented competitive advantage, which instantly places, for many consumers, a wide number of its products into the specialty product category.

Ch. 17 - Personal Selling and Sales Management

 

Apple Inc., like all companies, uses personal selling to persuade a potential customer to purchase its products. This face to face interaction has helped all of us find, and persuaded us to buy a product. For example, if you were at the Apple store, and you were looking to buy an electronic device, one of the sales people would come over to help you pick out and buy a device that fulfills your needs. Apple's salespersons are well trained in encouraging sales, from having the right attitude, the perfect appearance and the specialized knowledge of Apple products. Companies like Apple, that have expensive products with complex features, need personal selling. In my recent visit to the Apple's store, I was able to get personal advice about the new releases of Apple and the benefits of each of these products. An employee came to me personally and allowed me, to both try and compare a variety of different Apple products. She advised me to try the new version of the IPhone, the IPhone 5C, and patiently showed me how to use it. She also informed me about all of its new features that make it so unique and worthwhile to purchase. My whole interactive experience at the Apple store was very enjoyable and informative which led me to the conclusion that Apple's promotional mix in personal selling has helped the company not only increase its sales but also boost the potential of developing a long term relationship with their consumers.

Ch. 16 - Advertising, Public Relations and Sales Promotion

Apple’s Inc. is probably one of the most known companies in the world. It is impossible to achieve popularity like Apple’s based only on the quality of your products. Product advertising is one of the most important tools if not the most important, of the promotional mix. Apple's success in advertising its products is not something new to the company. For over three decades ,Apple has spent millions of dollars participating in every kind of advertising from institutional to product advertising. Its most significant ad campaigns include the "1984" Super Bowl commercial, the 1990s Think Different campaign, and the "iPod people" of the 2000s. Apple's ad budget rose only marginally from a base of $467 million in 2007 until 2010.  Then, recognizing the importance of the promotional mix and advertising, Apple doubled its Ad budget to $ 1 billion a year in 2011. That year, Apple began a series of new product launches in both the iPhone and iPad lines that has continued unabated. This might sound like a lot of money to spend for the everyday person, but with such fierce competition, Apple has to constantly improve and increase its Ad budget.


Just a couple of weeks ago, the TV advertising analytics firm, Ace Metrix, found that Samsung's ad featuring clips from futuristic shows and movies which featured technology similar to their new Galaxy Gear smart watch were very successful. Dreams of the past had become reality! This ad scored an extremely strong 682 on its 950-point Ace Score scale, whereas Apple’s most popular ad for the Iphone 5C, only scored a 522. The advertisements are displayed below. See for yourselves.

 Apple's Iphone 5C Advertisment

Samsung Galaxy Note 3 Gear Smart Watch TV Commercial

 

Ch. 14 - Marketing Channels and Retailing

There are more than 400 Apple’s retail stores in 13 countries, with 253 of those being incorporated in the US. Apple also has an online store, available in 38 countries, which provides immediate service at the consumer's convenience. Last week, I went to 767 5th Ave, and visited a store myself.  I have to admit that it was the coolest apple store I've ever been to. It has a really cool glass cube entryway; a unique glass elevator which leads you down to the lower level that houses all the cool Apple gadgets. It is quite innovative! I was able to find the latest models like the Iphone 5C, and virtually any Apple product anyone may desire such as IPhones, iPads, Mac Computers, Apple TVs etc. Despite it being crowded, I was still able to browse the store and try out all the products, thanks to an excellent customer service.

Overall, Apple's stores offer a unique shopping experience that incorporates all six Ps in the retailing mix - great products, place of business, promotion, pricing, presentation, and personnel- a great marketing strategy. In looking for the presence of all the these components in their stores, I can say that all of the Apple’s stores I visited in NYC are conveniently located, relatively close to a train station, in busy areas and operate 24 hours.All of these factors help to catch the attention of thousands of people passing by creating further awareness. Next, employees successfully enticed consumers to embrace an Apple brand preference by displaying the new Iphone 5C and its benefits, which include a more affordable price and a plastic color of your choosing. Apple is even taking action at its exterior, continuously advertising the benefits of the new IPhone 5C to draw every potential costumer. In conclusion, after visiting this store I was able to live the unique use of Apple’s retailing mix.

Ch. 6 - Consumer Decision Making

Nowadays, a consumer uses what is called the consumer decision-making process pictured to the left when buying goods or services. Apple's marketing managers on the other hand, try to understand what the needs and wants of a consumer are, in order to create the ultimate marketing mix. Apple Inc. recognizing the importance of the need recognition step in the consumer decision-making process, has doubled its Ad budget to $ 1 billion a year.  Further, Apple's marketing managers, realizing the importance of  the second step used by the consumer or the information search  step,  wherein the consumer will search for new information about a product, have provided valuable information for all of their products, to their customers through their internet website( http://www.apple.com/ )  advertising, Facebook, twitter and tours. 

Apple is ubiquitous. As such, Apple is rated by Interbrand as the world's most valuable brand. In conjunction with Apple's fame and its trustworthy name, new consumers can easily obtain internal information from what other consumers have relayed to them about their past experiences. The third process in the consumer decision-making process is the evaluation of alternatives. Luckily, Apple's products are known as being the best in the market. Apple has achieved the product/service differentiation competitive advantage that few companies in the world have. The last steps involved are purchase and post-purchase behavior respectively. Purchase is the actual purchase of the product, and here Apple has also won the bet. Just three days after the launch of the new Iphone 5C, iPhone sales topped nine million, setting a new record for the company. Apple is making sure that all of consumer’s expectations are fulfilled. This has led to positive feedback and consumer-generated advertising of which I am participating in right now by posting on my blog.

 

Ch. 5 - Developing a Global Vision

Interbrand(the world's leading brand consultancy) announced yesterday that Apple is the world's most valuable brand. As of May 2013, Apple is one of the worlds leading companies. Apple maintains 408 retail stores in fourteen countries, sells all of its products online as well and  participates in worldwide tours to promote its products. Apple also participates in the international market by having many of its products manufactured outside the US. Despite the efforts Apple has made to compete internationally with other colossal technological companies, Apple still suffers negative drawbacks. The number of Apple retail stores in foreign countries is relatively small for such a well known company with competitively priced products. Unfortunately, Apple's global market in developed regions was very uncertain up until recently because of its pricey products. Its being pricey caused Apple to struggle in the past to compete with foreign competitors efficiently. Today, acknowledging the importance and benefits of globalization, and in an effort to penetrate the more determined international markets, Apple improved its global vision by implementing new global marketing strategies.

 

One of these strategies was Apple's announcement of the Iphone 5C that comes in a lighter, cheaper, plastic case than its predecessor. The more expensive Iphone 5, was very successful in the US and European Market, but lacked in sales in developing countries such as Brazil and Turkey. Apple now hopes that by offering a cheaper version its international sales of the Smartphone will expand. With the release of the Iphone 5C, Apple is hoping to grab the attention of its target market both domestically and internationally- the poorer, teenage and eldery populations that were unable to purchase the Iphone 5 the precedent of Iphone 5C.

 

Ch. 4 - The Marketing Environment

Prices of goods can affect our overall economy. With inflation driving prices up, people buy less, and with hyperinflation things gets a lot worse, especially when their salary does not follow inflation, and in rare situations, deflation may drive the prices down and then every business in the country weakens. The recession is one of the main factors that can bend the economy and change consumers’ purchasing mindset.  Apple’s target market is a unique example for every company in the world. Apple, knowing that their products are pricey, just recently announced the iPhone 5C, a plastic-cased, cheaper version of its flagship smartphone.

The iPhone 5C will help Apple target customers in emerging economies, something analysts say the company needs to do in order to stay ahead in an increasingly saturated smartphone market. Apple is more popular in North America and Europe but lags in developing regions like China, India, South America, the Middle East and Africa. Apple hopes that a cheaper iPhone will change that trend in these countries. At the same time, Apple is trying to comply with the slowly growing number of buyers in the USA who are moving away from the two-year contracts that subsidize the cost of a phone and buying their phones outright. Cell phone carriers like Virgin Mobile are asking customers to pay for more of the cost of their phones, and customers are also starting to choose more flexible contracts for unsubsidized phones. In addition, Apple is trying to engage the untapped US smartphone market that is mostly among the poorer and the elderly, neither of whom are likely to splurge as much on their first smartphone.

Ch. 3 - Ethics & Social Responsibility

Apple has set as one of their main strategic goals, as is stated in their Facilities Enviromental Report, to be " committed to protecting the environment, health, and safety of its employees, customers, and the global communities in which it operates". For more than 20 years, Apple has been working on ways to minimize the impact of the company and of their products on the environment. Apple is working toward 100% renewable energy. In fact, in 2012 it launched the redesigned iMac, which uses 68 percent less material and generates 67 percent fewer carbon emissions than earlier generations. In addition, the aluminum stand on the iMac is made using 30 percent recycled content. Also, Apple achieves 100 percent renewable energy use in corporate facilities in Austin, Elk Grove, Cork, and Munich; at many sites in Australia; at the Infinite Loop campus in Cupertino; as well as at data centers in Newark, Maiden, and Prineville. Impressing, when considering all the Apple corporate facilities worldwide; 75 percent of the total energy used comes from renewable sources — a 114 percent increase since 2010. According to Apple's official site, Apple states that "the most important thing we can do to reduce our impact on the environment is to improve our products’ environmental performance. That’s why we design them to use less material, ship with smaller packaging, be free of many toxic substances, and be as energy efficient and recyclable as possible. So as we continue to grow faster than the rest of the industry, we’re doing it with products that are friendlier to the environment than ever, and we remain committed to creating products that have the least amount of impact on the environment. Though our revenue has grown, our greenhouse gas emissions per dollar of revenue have decreased by 21.5 percent since 2008. And we’re still the only company in our industry whose entire product line not only meets but exceeds the strict energy guidelines of the ENERGY STAR specification. "

Source: http://www.apple.com/environment

 

Ch. 2 - Strategic Planning for Competitive Advantage

Apple is one of the most well-known companies in the world. But where can Apple Inc. attribute its popularity? Its success could not be attributed to anything else than to its strategic planning which the company implemented successfully the last few years in the competitive society we live in. Apple's Inc strategic planning has helped to set the company apart from other colossal ones in the industry. This is what we call in marketing, competitive advantage. That is to be able to provide the same value as its competitors but at a lower price, or to charge higher prices by providing greater value through differentiation. It's important to mention that up until recently Steve Jobs the CEO of Apple's Inc was announcing the new products to the public which I believe was a great strategic plan because just from watching the presentation you felt connected to the company. Apple’s CEO was making sure to differentiate its products on every presentation by referring to them with extreme detail there by showing why you should try Apple and why you should spend your money on one of its products. Steve Jobs was describing Apple's Iphone as a superior and unique product with better hardware, software, operating systems and support. He also emphasized how important it is for Apple to satisfy their customers. Unfortunately, we all heard about the death of Steve Jobs. People automatically felt that a part of Apple’s fame might be lost. In the end, Steve Jobs was the founder and heart of Apple's Inc. However, 2 years later Apple Inc keeps thriving as forecast show, and with the introduction of Iphone 5, and its new features and better CPU, Apple's revenues beat analyst's forecasts, with a 20% rise in iPhone sales in the latest quarter. Apple shows that the company can still be innovative, following a strategic plan that is far more elaborate than we ever thought.

 

 

Ch.1 – Brief History and Mission Statement of Apple Inc.

Apple Inc's Brief History 

 Apple Inc. is an American multinational corporation headquartered in Cupertino California. It was founded on April 1, 1976 by a group of friends Steve Jobs, Steve Wozniak and Ronald Wayne. Their first sale was the Apple I personal computer kit, a computer single handedly designed by Wozniak. Apple was incorporated on January 3, 1977 and a few months later, on April 16, 1977, Apple II, also invented by Wozniak, was introduced in the market. Apple II had the distinct honor of being differentiated from its competitors because of it's ability to successfully mass-produce microcomputer products first and it was this product that would boost the image of Apple Inc. as a whole. Today, Apple Inc. has become the world's second-largest information technology company by revenue after Samsung Electronics, and the world's third-largest mobile phone maker after Samsung and Nokia. Currently the company designs and manufactures computer hardware, software, and consumer electronics, such as smartphones(iPhone), portable media players(IPod), tablet computers(iPod) and with more than 408 Apple retail stores in fourteen countries, Apple is the largest publicly traded corporation in the world by market capitalization.

Apple Inc's Mission Statement

 

"Apple desings Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices."

Source:Apple's Investor Relations FAQ