Un reto

Su presencia en el mercado chino es importante pero queda muy por detrás de otros fabricantes de smartphones. El factor precio sigue siendo importante y un proveedor local con buen precio, producto y mucho servicio a sus clientes (Coolpad, Huawei, Lenovo, Samsung and ZTE) puede ponerle las cosas difíciles. Este proveedor es MediaTek, y digo yo si no serán con quien recientemente han ido a hablar los directivos de Apple si es cierto que piensan en hacer un iPhone barato o hay que salir de Samsung para la fabricación de chips:

«… For now, Apple has signaled that it has no intention of competing on price. The iPhone 5, released in China on Dec. 14, cost 300 renminbi more than the two previous models, the iPhone 4S and 4, on their release days. More than two million units of the iPhone 5 were sold during its first weekend.

By contrast, Coolpad, Huawei, Lenovo, Samsung and ZTE have rolled out new phones with similar performance at a third of the iPhone 5’s price of 5,288 renminbi, and sometimes less. …»

Via Leap 2020.

El potencial del App Store

«… Apple’s App Store is the most profitable application marketplace. Its closest rival, Google Play, generates only a fraction of what Apple does through app monetization. Apple generates $15 million per day in revenue from app monetization, compared to Google at $3.5 million. In 2013, I predict that Apple will continue to generate increased revenues through apps. Developers will be encouraged to create apps for Apple first, and later for Android. This will ensure that Apple continues to stay ahead of all its competitors in terms of app revenue and monetization. This is a great situation for Apple investors.»

Via Seeking Alpha, App monetization drives revenue growth for Apple

Margen, precio y estrategia de producto.

«… investors are focused on the effect of product strategy and, in particular, the mix-shift from the iPhone to products, such as the iPad Mini, with margins that are lower than the corporate average. This note argues that, while these products create challenging margin optics in the short run, they improve AAPL’s pricing power in the long run.

The role of the iPad Mini is to protect the floor in the iPad product line. It turns out, however, that AAPL was able to offer the lower-price product without compromising margins; in fact, the data suggest margins on the iPad Mini are higher than those on the third generation iPad when it was launched. In other words, rather than cannibalizing iPad sales, the iPad Mini may represent an up-sell.

… in a letter to investors of May 29, 2012 from hedge fund manager, Mr. David Einhorn: «Rather than view Apple as a hardware company, we view it as a software company that monetizes its value through the repeated sales of high-margin hardware.» From its own reports, AAPL’s perspective seems to be that it sells a «user experience» which is monetized through the sale of both hardware and software.

There was an interesting change in language in AAPL’s annual report from 2009 to 2010. In the 2009 report, the business strategy places products first and is articulated as: «the company is committed to bringing the best personal computing, mobile communication and portable digital music and video experience to consumers.» In the 2010 report, the customer experience comes first and the product descriptions are more general: «The Company is committed to bringing the best user experience to its customers through its innovative hardware, software, peripherals, services, and Internet offerings.»

The strategic imperative for AAPL is to build pricing power through selling customers multiple devices. This enhances customer loyalty, presumably through engaging customers more in AAPL’s iEcosystem and thereby increasing perceived switching costs. …»

Via Seeking Alpha, Apple: Margin, pricing and product strategy

Así que a lo mejor hay que comprar acciones …