Apple Inc.: Say Hello to the iPad

Jan. 28, 2010
New tablet device will launch in March 2010 and sell for $499

Three years after introducing its breakthrough iPhone, Apple Inc. on Jan. 27 unveiled its much-anticipated iPad tablet computer. The iPad is half-inch thick mobile device that CEO Steve Jobs characterized as filling the gap between the laptop and the smartphone.

The product will be available in late March at a starting price of $499 for a 16-gigabyte model. A 32GB model will be available for $599 and the 64GB iPad will cost an additional $100. Users can perform various functions on the application including e-mail, listening to music and reading e-books.

The iPad will come in two versions -- one with Wi-Fi and the other with both Wi-Fi and 3G. The Wi-Fi and 3G combo will cost an additional $30.

The device also features 12 new apps designed specifically for the iPad and will run almost all of the 140,000-plus apps in the App Store. Jobs referred to the iPad as the company's "most advanced technology in a magical and revolutionary device."

"iPad creates and defines an entirely new category of devices that will connect users with their apps and content in a much more intimate, intuitive and fun way than ever before," said Jobs in a statement.

Apple Inc.
At A Glance

Apple Inc.
Cupertino, Calif.
Primary Industry: Computers & Other Electronic Products
Number of Employees: 36,800
2008 In Review
Revenue: $36.54 billion
Profit Margin: 14.88%
Sales Turnover: 0.82
Inventory Turnover: 49.90
Revenue Growth: 35.30%
Return On Assets: 19.07%
Return On Equity: 33.27%
The iPad is designed with a 9.7-inch LED-backlit display that features In-Plane Switching (IPS) technology with an ultra-wide 178-degree viewing angle. The intelligent soft keyboard that first appeared on the iPhone offers a nearly full-sized soft keyboard.

The announcement came just two days after the company said profit rose 50% over the year-earlier period on increased sales of its iPhones. Profit reached $3.38 billion, or $3.67 a share, compared with $2.26 billion, or $2.50 a share, in the year-earlier period. Revenue increased to $15.68 billion, up from $11.88 billion in first-quarter 2009.

The company sold 8.7 million iPhones, a 100% increase over the year-ago quarter. The company also sold 3.36 million Macintosh computers, a 33% increase. iPod sales declined 8% to 21 million units sold during the quarter.

"If you annualize our quarterly revenue, it's surprising that Apple is now a $50 billion-plus company," said Jobs when earnings were released. "The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."

In the second quarter the company expects revenue to be between $11 billion and $11.4 billion, with earnings per share in the $2.06 to $2.18 range, said Peter Oppenheimer, Apple's chief financial officer.

See Also

Interested in information related to this topic? Subscribe to our weekly Leadership Insights From The IW 50 eNewsletter.

Popular Sponsored Recommendations

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!