Steve Jobs was famous for his “Cool” quotient and applied it in all his creations. The famous “half eaten apple” logo of the technology giant has now become a status symbol in itself. Apple devices like iPhones and iPads are accompanied with accessories such as smart cases, smart covers, apple digital AV adapter, power cord, wireless keyboards and screen guards. The Apple accessories market has good growth potential and is never ending. The more the accessories a company manufactures, the higher the profit graph is likely to shoot. Accessories have excellent margins and the theory of relativity is greatly at play here. To elaborate, if an individual is an Apple loyalist, he/she would definitely own an iPhone and chances are he/she will most likely buy at least one Apple accessory, be it a smart case or a charging stand.
Recently, Apple announced the introduction of an app called swift playgrounds, available only on iPads. This app will help kids learn codes through gaming. To add to this, the playgrounds not only help kids learn to code, but also teaches them the new coding language “Swift” that Apple uses. This will fuel Apple’s growth as a services compoany in future, especially in China, as the next generation might embrace Swift. Developing markets such as China and India are key regions for Apple as it has witnessed good sales growth in these regions over the last couple of years. China in particular is a more lucrative market for Apple products and accessories. Apple’s fashion accessories are also creating many opportunities for small businesses (small accessory companies). An example of Apple’s successful entry into the accessories market is the introduction of watchbands. Apple sold more than 10 million watches in 2016, accounting for over 45% of the market share, making the Apple Watch the second best-selling product in the history of Apple. The company capitalised on the frequent public trend of changing watch bands and introduced more watch bands with an innovation in the body of the band, which comprised woven nylon and a military feel. It is highly anticipated that Apple will launch “smart bands” in the near future.
To add to this, Apple’s watch series 2 is yet another success story for the company. Features such as a waterproof body, speed of operations, and availability of a GPS system all integrated into the device have already grabbed consumer eyeballs, and the erstwhile non-Apple fans are now switching loyalties to the brand because of such innovative accessory developments. According to recent news, Apple continues to innovate accessories for iDevices as a fantasy. Back in 2015, Apple had introduced the iPad Pro along with a smart cover. However today, Apple’s engineering teams have considered a hard cover accessory for the iPad Pro. The trackpad idea that Apple dreams of, even though difficult to materialise, might create interest amongst Apple fans. The idea of using an iPhone as a trackpad on the MacBook is a unique concept in itself. However, this is not the big picture. Apple has been researching for years on repurposing the area of the trackpad for other functionalities with the help of a plug-in device for new accessories. In keeping with its heritage, Apple will continue to innovate and redefine the meaning of bringing endless possibilities to fruition.