Product and service innovation

RUNNING HEAD: Product and service innovation 0
APPLE
Product and service innovation

Product and service innovation 1
Contents
Background and history of Apple watch................................................................................................2
Vision/goals of Apple watch.................................................................................................................2
Product portfolio of Apple Watch.........................................................................................................2
Milestones and important events of Apple Watch.................................................................................3
Summary...............................................................................................................................................3
References.............................................................................................................................................5

Product and service innovation 2
Background and history of Apple watch
The Apple Watch is a wearable technology for the wrist. The features of watch include
information about the foundation of Apple. The first edition of Apple Watch was released in
April 2015. The Apple Watch tracks daily activity, measures workouts and reassures healthy
routines (Kahn 2018, p.453-460). The Apple Watch tracks the accurate fitness and relies on a
wireless connection to an iPhone. Apple Watch was presented by CEO Tim Cook in
combination with iPhone6. Officially it was released in April 2015 with the shifting focus to
fitness oriented features. The goal of the company is to enhance the uses of iPhone with
some additional features (Guler, Gannon and Sicchio 2016, p.3-10). The Apple Watches is
the most valuable segment of Apple and accounts for 60% of the market value.
Vision/goals of Apple watch
It is the vision of Apple watch to change the way people live their life. It has impacted the
lives of people in a significant way. It is even accessible for VoiceOver users and has
prominent options for the users. The vision of Apple Watches pushes the continuous growth
despite facing challenges in the competitive landscape. The company believes in making
great products and continuous innovation. It does not settle anything less than excellence
(Jung, Kim and Choi 2016, p.899-905). The company is even identified for the user friendly
and easy to use products which has role in improving routine activities. The Apple Watch is
the company’s first wearable gadget. It will also increase trend towards the health related
wearable gadgets.
Product portfolio of Apple Watch
The product portfolio of Apple comprises the following:
Apple watch 1 generation: Two versions are available in the 1 generation of Apple watches,
38mm and 42mm. it was released in 2015. It costs somewhere between the US $350-$10,000
depending upon the model.
Apple watch series 1: It was released in 2016. The series 1 featured an improved processor
and rest features were same as first generation watch. It did not have cellular connectivity.
Apple watch series 2: The series 2 was launched in 2016. It was an upgraded model and
comprised a GPS, a brighter display and a great dual-core processor.