Industry Analysis With the introduction of the iPod Nano (at the time, named iPod mini) in 2005, the market of MP3 players was at a growth rate. With the iPod Nano on its 7th generation, the industry is at a completely different phase. There are still hundreds of options to choose from when looking at MP3 players, but only a handful being top contenders in a declining market. Accounted for in that top handful would be the Apple iPod, the Sony Walkman, Pyle MP3/FM Radio Player, SanDisk Clip Sport, and the Kubik Evo (Best reviews, 2015). Though the market has been declining quickly, with “year-to-year growth in spending… falling from 131% in 2005 to 17% in 2006” (Elmer-DeWitt, 2008). Apple’s share of the market as shown to be steady, showing …show more content…
designs, manufactures, and markets mobile communication and media devices, personal computers, portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications (CNN Money, 2015). They are known for many products including iPod, iPad, MacBook, iPhone, OS X and some others. In addition to products, they are known for their services as well, most notably being iTunes. Apple’s current mission statement is, “Apple designs 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 is defining the future of mobile media and computing devices with iPad” (Rowland, 2015). Some would argue that this is less a mission statement and more a list of products that Apple offers. None the less, it conveys the message of what the company is and what they are aiming for in the future. Perhaps if Steve Jobs, one of Apple’s founders, was still around it might be more creative. According to Time Magazine, in the beginning of 2015 Apple was worth over $700 Billion and they were trading at $122.02 per share on the NYSE. Additionally, during Q1 of 2015 Apple netted $18 billion on $74.6 billion in revenue, or just under 25%, which happens to be the best quarterly performance in …show more content…
According to Andrew Williams, a writer for Trusted Reviews, the iPod Nano is ran on Pixo OS (Williams, 2012). The device is rectangular and keeps a consistent design with other iPod products that is sleek and light-weight. However, the Nano 7th generation is still unique in function. The Apple website shows the device having eight pre-assigned apps, which include: music, videos, fitness, podcasts, photos, radio, memos, and a clock (iPod Nano, 2015). Music lovers are also provided with Bluetooth capabilities for hands off experience. Another benefit of the Nano is playback time. “At 30 hours, the new iPod Nano offers the longest music playback of any iPod Nano so you can enjoy your playlists* and FM radio even longer” (Neumayr & Ramsey,