Apple founder Steve Jobs has just died. The 56 year old passed away after a long battle with a rare form of pancreatic cancer.
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The Apple founder and inventor of the cult Mac, iPhone and iPad, passed away yesterday in the US on October 5th, it has been confirmed.
“Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives,” Apple’s board of directors said in a released statement.
“The world is immeasurably better because of Steve.”
Jobs “died peacefully today surrounded by his family…We know many of you will mourn with us, and we ask that you respect our privacy during our time of grief,” his family said in a seperate statement issued.
Apple foe Samsung shares have jumped 3.9 percent as the news of Steve Jobs’ passing seeps through.
Samsung shares are now valued at 875,000 won – a 3.9% jump at 9:18 a.m. local time, outperforming Kospi index benchmarks of 3.3%, reports Bloomberg.
The South Korean giant is locked in currently in a major legal battle with Apple in a patents dispute, which could cost it the launch of Galaxy Tab 10.1 in Australia and elsewhere.
Samsung Electronics has also just gone to court seeking a ban on the new iPhone 4S, launched yesterday by Apple. South Korea’s other big player LG also made massive gains on its share price on local market today- jumping 7.6 to 74,800 won, almost double that of Samsung’s gain.
“Even without Jobs as the CEO, people thought he would have direct and indirect impact on management, and the company would keep showing its ability to develop new devices,” Choi Do Yeon, LIG Investment & Securities Co. analyst in Seoul, said.
“His death might weaken such ability. I cautiously think it could be a chance for Korean companies to regain some of the leadership they lost to Apple.”
Just yesterday, Apple held its first press launch without the CEO, who was forced to step down in August this year due to ill health.
Apple’s messiah and product genius behind every cult device that emerged from Cupertino, from the iPhone launched in 2007, which kicked off the smartphone era, iPad in 2010 which did the same for tablet computers and the Mac, was sadly missed at the launch of iPhone 4S held yesterday.
Company shares were up 1.54% on markets yesterday US, although dipped slightly in after hours trading.
“If you use a computer or smartphone today, it is either one he created, or an imitation of his genius,” wrote one US journalist today.
In 1985, Jobs returned to the company he help co-found with Steve Wozniak in 1976, after it bought out NeXT, the computer workstation company Jobs started after being ousted by the Apple board.
By acquiring NeXT, Apple got two the operating system that became OS X, the software that underpins every Apple device and Jobs as “interim CEO” at a salary of $1 a year.
Fifteen years later, Apple had become the most valuable company in the world.
Most recently, it post record breaking revenues up 82% and net profit up 125% to $7.31bn for Q2 (April to June) – thanks to skyrocketing sale of iPhone, which sold 20.34m in the period (142% rise) and 9.25m iPads sold, a jaw dropping 183% jump compared to a year earlier.
The iPhone is also the best selling handset in the world and Apple accounts for about 75% of tablets sales globally.
Global domination also came easy to the Cupertino based giant, now the most valuable tech firm in the world, thanks to concept Apple Stores, with international sales accounting for 62% of revenues. Not bad for the company which started out in a back garage.
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Apple under Jobs also single handedly created the digital music industry with its cult iPod music player and iTunes download store helping to revolutionise the way people buy and listen to tunes.
Jobs increasingly troubled health emerged in August in a letter addressed to the Apple board of directors, writing “I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
“As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
“I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
“I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.”
His passing has come to a shock to many, and will be a major loss to his brainchild Apple.
The company whom he steered to greatness wrote the following on its site today: “Steve leaves behind a company only he could have built and his spirit will forever be the foundation of Apple.”
“Apple has lost a visionary and creative genius and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor.”
Cupertino are also inviting people to “share your thoughts, memories, and condolences”, at email: firstname.lastname@example.org
RIP Mr Jobs.