Steve Wozniak, co-founder of Apple Inc. (NASDAQ:AAPL) expressed his opinion during an interview with Wirtschafts Woche, a German publication that the features of the products of the iPhone maker seemed to have fallen behind its competitors.
During the interview, Wozniak shared his story of how he and Steve Jobs started Apple Inc. (NASDAQ:AAPL) in a garage, the challenges they faced in starting the business, and emphasized that from the beginning they had big dreams for the company. He said that they chose Apple as the name of the company because its meaning is positive and healthy citing the English proverb, “An apple a day keeps the doctor away.”
Wozniak pointed out that Apple Inc. (NASDAQ:AAPL) has been profitable since the beginning. “Apple was profitable from the start. Mike Markkula always preached that one must have a good profit margin, so you have to collect any money from outside to survive, while above average must leave by his company,” he said in the interview.
In addition, he said that Apple Inc. (NASDAQ:AAPL)has high profit margins due to its brand and he is thankful because the company has loyal fans. According to him, loyalty is not easily earned and the company’s best products must be always “kept alive and confirmed.”
He opined that the Apple Inc. (NASDAQ:AAPL)'s current smartphone business is falling behind Samsung Electronics Co., Ltd. (LON:BC94), its strongest competitor. “Currently we are in my opinion in the smartphone business with the features somewhat behind. Others have caught up. Samsung is a great competitor. But precisely because they are currently making great products,” Wozniak said.
He also said that the death of Steve Jobs is bad for the company in many levels because he embodied the Apple brand. He stood for the development of excellent products and for perfection. But, he said it is too early to assess how Apple would develop without Jobs. Wozniak is confident that Apple Inc. (NASDAQ:AAPL) has great managers and their decisions are guided by Apple’s culture.
According to him, he is still a part of the Apple fan community, and often waits in line at an Apple retail store to buy the newest iPhone or iPad. He does it because he considers the launch of a new Apple Inc. (NASDAQ:AAPL) product as a “big, major concert and history.”