With the unexpected level of success of the iPhone 6 generating record profits, Apple is said to be already ‘cooking’ up the next big tech sensation: the iCar. Apple’s shift into the auto sector would not mean the end of the iPhone business. On the contrary, Apple fans have come to devour anyiThing related to iPhones - apps, music, films and more. And that’s exactly the main idea behind the tech giant’s strategy: to captivate more prospects and clients with every new product into the Apple universe.
With Tesla already leading the electric car market one may wonder how is Apple going to compete against that given the company’s lack of experience in the strictly regulated automobile industry. Have the iBeetle and Google’s self-driving car not stolen the thunder away already? What new revolutionizing design or functionalities could the iCar bring? First of all, Apple has never played the race to first game, the iPhone was not the first smartphone ever seen and the iPad was not the first tablet on the market. Secondly, Apple’s strategy is strongly brand- focused on Apple being a product company and not a technology company like Samsung. The aim is not to come up with completely new products on the market but to make sure the products Apple brings to the market are well-designed and have cutting edge technology integrated. Therefore, the iCar project is going to take a few more years to be finalized. In the meantime, suggestions and rumors are unstoppable: the Apple car would connect to all its existing products thus creating an exciting Internet of Things (IoT) experience or it would enable unimagined ways of interacting through digital channels while driving. Imagine your car morphs into a full-fledged office. It will be another step to make clients and employees more independent of their physical surroundings. It will have implications for advisors and their clients, for the ways they work, meet, communicate and interact.
Electric cars and Apple definitely make an interesting combination but to take on the car industry will be a different kind of fight than everything Apple has done so far.