Apple Inc products such as iPhone and iPad have redefined tablet computers and smartphones in spite of the fact that the company was a considerably late entrant in the market (Wakabayashi et al 1).
The company has incorporated more innovation and expanded its product offering to other products such as larger iPhones, smartwatches, as well as new systems of payment for mobile devices (Wakabayashi et al 2).
These offerings which are primarily composed of software, services and hardware eliminate questions regarding the capacity of the company to follow a path of innovation under the leadership of Tim Cook, who took over after the death of Steve Jobs the innovator extraordinaire (Wakabayashi et al 4).
However, these innovations have had a hard time making it in the market. Consumers are yet to be convinced about the superiority of mobile-payment systems over credit card swiping.
Further, smartwatches are yet to do well in the market, while the larger smartphones costs much more at a time when the prices of smartphones are dropping.
The new digital-payent service dubbed Apple Pay allows users to purchase merchadise by waving an Apple Watch or iPhone in front of the reader, a service that is aimed at speeding up the checkout process.
However, such services have in the past been a flop as was the case of eBay Inc and Google Inc among others, while the ones that have succeeded are yet to make a substantial impact in the market.
Inmy weighed opinion, the capacity of a company to persistently improveand innovate is the key to success in the market. However, it isworth noting that the innovations must meet a particular need in themarket and, at least, be more superior to the existing technologiesin one way or another. The introduction of digital payment servicesmay be an incredible innovation. However, it is only different fromthe current techniques for making payments in the contemporary worldsuch as credit card swiping, but not superior in any way.
Wakabayashi, Daisuke.,Bensinger, Greg and Barr, Alistair. Apple`s Tim Cook Makes BoldestBets Yet With New iPhone, Apple Watch: Tim Cook Hopes New ProductsCan Succeed Where Others Struggled. TheWall Street Journal,2014. web retrieved fromhttp://online.wsj.com/articles/apple-boss-makes-his-boldest-bets-yet-1410306290