Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to $197.44 in after-market trading, wiping about $9 billion from the firm’s value.
Ive joined Apple in 1992 and led Apple’s design teams since 1996. He became chief design officer in 2015. Ive’s departure comes amid falling iPhone sales, including a record drop in Apple’s most recent quarter. Sales of some newer hardware products such as the Apple Watch and its wireless AirPods headphones are expanding, but Apple has turned its attention to growing its services business, which includes Apple Music and iCloud.
After Jobs’ death, pundits questioned whether Apple could continue Jobs’ pace of new products. Ive became a symbol of continuity, bridging the Jobs and Cook eras. Ive came to oversee both hardware and software design at Apple, but the company laid the groundwork for his departure over several years. During 2015, Ive handed off some duties to other executives while he finished Apple’s new corporate headquarters, Apple Park.
The effort, which was never released, was not part of Hankey’s official duties. But she took an interest anyway because of her “very long-term vision kind of role – looking for seeds that could turn into something bigger, or maybe plant some seeds, too,” Cannistraro said.
Do not compete?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK: CEOs in South Africa are quitting their jobs, triggering a succession crisisCorporate South Africa has recently been infected by a state-owned enterprise disease. The symptoms of the disease? A high turnover of CEOs in a short space of time. More than 10 CEOs have either resigned or were pushed out of JSE-listed companies and business lobby groups since January 2019. It is only mid-year and market watchers expect the CEO revolving door to continue. One wonders why..? Dodgy CEO’s!
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Business Against Corruption: Fresh calls for State Capture-linked audit, consultancy firms to face harsher sanctionsAudit and consultancy firms that have been linked to the corrosive State Capture project have had it too easy. Directors and audit partners of KPMG, Bain & Co and McKinsey & Co have not been arrested for their role in crippling South Africa’s institutions. The consequences they have faced so far are the loss of clients and repayment of money/fees unlawfully earned from state coffers. But there are growing calls for criminal prosecutions or other sanctions.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK INVESTIGATION: Video Surveillance and Cybersecurity (Part Two): Chinese cyber espionage is a real threatChinese surveillance giant Hikvision has sold thousands of security cameras in South Africa and soon Joburg’s suburbs will see an unprecedented increase of Hikvision’s presence. But their products, along with Huawei and ZTE, face a ban in the United States following rising fears of Chinese cyber espionage. Unlike the US, however, South Africa’s State Security Agency – with its own shady past – has enjoyed a close relationship with China’s security forces. Daily Maverick delved into the details of the US ban and discovered chilling implications for South Africans.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK OP-ED: Horticulture is blooming, but there’s still room for growthHorticulture has boosted employment in the agricultural sector, which needs to be more focused on exporting to untapped markets.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listingNaspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE’s indexes, but fund managers are concerned the effect could, in fact, be the opposite.
Source: dailymaverick - 🏆 3. / 84 Read more »