Apple; The Tech Company in the Business of Hardware, Software and S...

I was talking to a friend of mine who was an Apple fan some years back and it looks like he is starting to dislike the product not because it is not good but because it is gradually becoming irreparable and gadgets are becoming more expensive but then he aid one thing he likes about Apple product is the speed of its processor.

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Apple is regarded as a technology company which is into the sales of hardware and software products. Its hardware products includes the Mac Book, iPhone, iWatch, and so on which have always been on the high rise yearly, it also sells a lot of software programs including memory to keep data. Apple have been selling really well but it is not going to remain at selling only hardware. Do not forget that the Apple ecosystem is enclosed thereby giving them a monopoly of market with their products and services.

Apple has decided to improve on its service business and with that, the company has decided to create more software products and improve on the previous once like the Apple care, iCloud storage, Apple Music, Apple TV+ and so on.

Do not forget that Apple has a program known as the iPhone upgrade program which gives users new iPhone each year, access to their carrier, Apple care +, and many more with just a fee per month. That was one of Apples most revolutionized service plan thereby allowing user to have first hand access to an iPhone yearly for a subscribed amount thereby giving them the phone and getting the phone back after a year.

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With Apple going into services more, they only need to create the service and other things fall into place. With Apple having over 1 billion loyal users, it just have to integrate its services into the gadget of its users and leave them to enjoy the products once they already subscribe for any monthly plan.

One other service people might haven't taken into consideration is the Apple credit card which is more of a service oriented business model to a hardware oriented business model. The card is only 1 out of ten of the model, the major product is the financial service being rendered. The card doesn't come with late charges fee, no annual fee and lower average rate. this is just to improve Apple Pay.

Do you think Apple will do well with its service business model or do they continue with the hardware and just a little bit of software?