Since early 2024 it has been quite clear that Apple is trying its hand at new product categories in an attempt to secure another source of revenue. From the canceled car project to the Apple Vision Pro, the company is struggling to come up with the next big thing. And as Apple insider Mark Gurman points out in his newsletter Power On: that just won’t fly.
A company as big as Apple can coast by on its existing products for a while. The iPhone and Apple’s accessories make up a major share of the company’s yearly revenue. But to stay at that coveted spot amongst the other giants of the world Apple will need to innovate and give consumers a reason to give it their business.
And yet this massive and highly successful company has been failing to do that for years. Not because its new devices are bad — on the contrary most of them are top of the line — but because Apple is failing to connect with the consumer as it once did.
When Steve Jobs passed away, current Apple CEO Tim Cook had a strategy to keep shareholders’ faith in the company: senior employees who barely work. This worked for a long time and designer Jony Ive’s work continued to help Apple put out unique and interesting products. After Ive left in 2019 it feels like most of Apple’s offerings have started stagnating.
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