![]() With a market cap of $214bn (£140bn), Apple is now bigger than Google (£118bn) and is rapidly gaining on Microsoft (£170bn). A year later, the real purpose of the iPhone became clear with the launch of the Apps store – which instantly redefined the market for software into an online exchange in which tiny programs sell in huge volumes for relatively little money – with Apple taking a 30% cut of every transaction and approving every single app before it appears on the store.Īs a result, Apple has morphed imperceptibly from a small company that made cool computers, but enjoyed minuscule market share, into a global giant. ![]() Then in 2007 it redefined the mobile phone market with the iPhone, which is essentially a powerful, handheld networked computer that also happens to make voice calls.
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