He was ousted after the growing friction between him and Sculley resulted in him organizing a ‘coup’ to remove Sculley. This second product increased their sales from $7.8 million in 1978 to $118 million in 1980 (when they went public).Ī few years later, in 1983, Wozniak left the company, and Jobs followed suit in 1985, after hiring PepsiCo’s John Sculley as president. On their second product, the Apple II, expansion slots were included for attaching floppy disk drives and other components and Human Interface Devices. In effect, their first product, the Apple 1 - a hand-built computer -, included only functional hardware modules like CPU, RAM, and basic textual-video chips, and excluded features like monitors, keyboards, and other Human Interface Devices. They wanted to make computers small enough to fit in people’s homes and offices. They aimed to revolutionize the way people saw computers. Apple's worldwide annual revenue in 2010 totaled US$65 billion, growing to US$ 127.Steve Jobs and Steve Wozniak, two college dropouts, founded Apple on April 1, 1976, using Jobs’ garage as their main office. Apple Inc's market cap is larger than that of Google and Microsoft combined. As of 2012, Apple is the largest publicly traded corporation in the world by market capitalization, with an estimated value of US$626 billion as of September 2012.
The company is now also known for its iOS range of smart phone, media player, and tablet computer products that began with the iPhone followed by the iPod Touch and then iPad.
With the introduction of the successful iPod music player in 2001 and iTunes Music Store in 2003, Apple established itself as a leader in the consumer electronics and media sales industries, leading it to drop "Computer" from the company's name in 2007. Jobs subsequently instilled a new corporate philosophy of recognizable products and simple design, starting with the original iMac in 1998. Contd.,, The following year he became the company's interim CEO, which later became permanent.
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