Apple Inc. co-founder Steve Jobs dies aged 56

The co-founder and former chief executive officer of Apple Inc. Steve Jobs has died yesterday at the age of 56, according to the company website.

On August 24, Jobs resigned from his post as CEO. He has been fighting pancreatic cancer since 2004.

Steve Jobs

Jobs, born in San Francisco on February 24, 1955, has built the most valuable technology company in the world, with a market value of $348.8 billion. He started Apple in 1976, and in 1984 the first Macintosh personal computer was released to the public. One year later he was fired from the company and he founded NeXT. In 1986 he bought Pixar which was acquired by The Walt Disney Company in 2005. In 1996, following Apple Computer’s purchase of NeXT, Jobs returned to Apple and soon after reassumed the role of CEO. In 1998 Apple introduced the iMac personal computer, in 2001 the iPod music player and the following year the Mac OS X operating system was released. 2007 was the year of the iPhone smartphone, then the iPad tablet computer in 2010.

A statement on Apple’s website, the homepage of which currently displays a black and white photograph and the text “Steve Jobs 1955-2011”, states: “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. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.”

United States President Barack Obama said “Steve was among the greatest of American innovators — brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it”.

Former Microsoft CEO Bill Gates responded to Jobs’ death with a statement on his blog: “The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come. … I will miss Steve immensely.” The current Microsoft CEO Steve Ballmer also expressed condolences for Jobs and described him as “one of the founders of our industry and a true visionary”.

Apple executive Steve Jobs resigns

Steve Jobs, founder of Apple, has chosen to step down from his post as CEO of the company. The former Chief Operating Officer, Tim Cook will be succeeding Jobs as CEO. Jobs resigned in a letter to Apple’s board of directors stating, “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s C.E.O., I would be the first to let you know. Unfortunately, that day has come.” In that same letter, Jobs stated that his desire was to remain as chairman of the board.

Steve Jobs

Steve Jobs has been fighting pancreatic cancer since 2004 and has been on medical leave since January of this year. This was Jobs’ third period of medical leave. He briefly made an appearance in March and June to unveil the iPad 2 and the iCloud, an online cloud computing service. In part of his resignation, Jobs left this farewell, “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.”

Tim Cook was personally recommended by Jobs to take over as CEO and has been serving as interim CEO since the beginning of Jobs’ medical leave. Before his post at Apple, Cook held positions at IBM and Compaq. He is known for staying out of the spotlight. Due to an operational overhaul by Cook, he is credited with the success of the iPad and MacBook Air. He also stood in Steve Jobs’ place while the CEO underwent liver transplant surgery. He received $59 million for his performance in the position.

Analyst Charles Golvin predicts that the resignation will not begin to affect Apple performance for 1.5 to 2 years. Many of the new products are already under development and Jobs will continue to steer the company from his position as chairman of the board. Art Levinson, chairman of Genentech and a member of the board, adds, “Steve will continue to serve Apple with his unique insights, creativity and inspiration”. A contrary view is offered by Charles O’Reilly, a management expert at Stanford University, who stated, “Great companies rarely go from strength to strength”. Richard Doherty attributes Steve Jobs’ success as the ability to hold off on a product until it is perfect. He states “A lot of products could have gotten to market earlier, but he wanted it better.”

In light of the revelation, Apple shares (AAPL) slid $19.37 in after hours trading—a drop of over 5%. Since market open, Apple shares rose to $373.72, a drop of only $2.46 since Wednesday’s close.

Apple Inc. unveils iPad 2 tablet

In a media event on March 2, Apple Inc. unveiled its iPad 2 tablet computer, the successor to the company’s iPad. The announcement was made at the Yerba Buena Center for the Arts in San Francisco, California. CEO Steve Jobs appeared at the event and introduced the new product, with FaceTime video messaging (with front and rear cameras) as well as a new dual-core Apple A5 processor.

Apple ipad 2.

The iPad 2 is an all new design and has several improvements over the original iPad. The device runs on an dual-core Apple A5 CPU. According to Jobs, the CPU’s new dual-core capability enhances multitasking and doubles the processing speed. Apple additionally introduced a magnetic ‘Smart Cover’ accessory that snaps to the front screen of the device along with several new apps ported from the Mac OS X operating system and the iPhone. These include iMovie, GarageBand, and Photo Booth. The new iPad introduces front and rear cameras which enable FaceTime. The new tablet is 15% lighter and 33% thinner than the previous version – thinner than an iPhone 4 – and has beveled edges. It will be available in black and white. The device continues to be capable of ten hours of battery life on a single charge.

The announcement comes after months of rumors about a successor to the original iPad. Competitors have designed tablets to compete with the iPad such as Motorola’s Xoom powered by the Android operating system. One research analyst predicted that iPads would still make up at least 20 million of the more than 24 million tablet computers sold in the United States in 2011. Another analyst credited the Apple’s App store for iPad’s continued success. The device will become available in the United States on March 11, 2011, available in 16, 32, or 64 gigabytes. iPad 2’s 3G models can connect to the wireless networks of AT&T or Verizon Wireless and Wi-Fi. The iPad 2 will start at US$499. In tandem with the announcement, Apple reduced the price of its original iPad to US$399. Shares of Apple inc. rose $2.81, closing at US$352.12 the day of the announcement.

‘Gates, Jobs among 5 most influential geeks’

Microsoft founder Bill Gates, and Apple Inc’s iconic CEO Steve Jobs seems to have become the rulers of the tech-world with featuring among five of the most influential ‘geeks’ on earth, says a magazine, ExecDigital.

Steve Jobs and Bill gates.

The credit of changing our lives and the entire world with the latest technologies also goes to the software major Oracle Corp CEO Larry Ellison, Larry Page, co-founder of internet search titan Google and telecom czar Carlos Slim Helu, the report added.

Cheering the technocrats, the magazine noted, “Their technology drives our lives and our businesses. These super execs have changed the world and continue to do so.”

Gates, who is among the richest man in the world with a net worth of USD 53 billion, founded Microsoft in 1975, which has become an integral part of almost every home today.

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