Technology

Apple beats Samsung & Huawei to become a Fortune company that’s changing the world

Maryam Dodhy Written by Maryam Dodhy · 1 min read>

Apple latest title? A company that’s changing the world. And they beat out Samsung and Huawei for it.

Just a few days ago, Fortune Magazine, a leading news media outlet, released their annual list called Change The World and Apple grabbed the third spot, below Jp Morgan Chase and a Dutch company called DSM. This is Fortune’s third Change The World list in which companies are selected on the basis of innovation, profitability, and social impact.

Fortune picked Apple for a spot on the list owning to their smart devices which are impacting people, not just in technology, but also in the areas of health, education, and climate. Fortune goes on to say that, “With roughly a billion of its smartphones, computers, and other gadgets in circulation, ­Apple has a larger cultural footprint than any other tech company.”

Apple currently has 116,000 employees, a market cap of $841,416 million, and made a revenue of $215,639 million in the last fiscal year. In an exclusive interview with Fortune’s executive editor Adam Lashinsky, CEO Tim Cook stated that Apple products are a force for good from the process of their construction where the company uses renewable energy, to the potential of its devices in medical research, and to the 2 million jobs Apple creates via the ‘app economy’.

He also defended Apple’s premium priced products by saying that they are “not for the rich”. He went on to say,

“We price for the value of our products. And we try to make the very best products. And that means we don’t make commodity kind of products. And we don’t disparage people that do; it’s a fine business model. But it’s not the business that we’re in. But if you look across our product lines, you can buy an iPad today for under $300. You can buy an iPhone, depending on which one you select, for in that same kind of ballpark. And so these are not for the rich.”

Despite the fact that Huawei beat out Apple to become the second largest smartphone manufacturer in the world, Apple could take back the title with its upcoming iPhone X, iPhone 8, and iPhone 8 Plus.

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Written by Maryam Dodhy
I love bringing to light stories of extraordinary people working in Pakistan's tech and startup industry. You can reach out to me through maryamdodhy@techjuice.pk. Profile