Former General Electric CEO Passed on Buying Apple for $2 Billion in 1996

Former chairman and CEO of General Electric Jack Welch had an opportunity to purchase Apple for $2 billion and passed at the chance, according to information shared by Bob Wright in an interview with The New York Post about his book The Wright Stuff: From NBC to Autism Speaks.

Back in 1996, when Apple was struggling ahead of Steve Jobs’ return, then CEO Michael Spindler, who took over after John Sculley was ousted, was “practically begging” General Electric to buy Apple.

applege

“The stock price was $20, and [Spindler] was explaining he couldn’t get the company moving fast enough and the analysts were on his case,” Wright told The Post in an interview on Tuesday. “He was sweating like mad and everybody said, ‘We can’t manage technology like that.’ We had a chance to buy it for $2 billion.”

A purchase by General Electric would have radically changed the company’s history and it’s questionable whether Apple would still be around as a brand today had that happened. Later that same year, after GE declined to make the purchase, Apple bought NeXT for $427 million and Steve Jobs returned to lead the company in 1997.

One of Jobs’ first major projects was the iPod, which launched in 2001 and set the company on its current path. The iPhone followed in 2007, the iPad came in 2010, and the Apple Watch, Apple’s newest product, launched in 2015.

As of today, Apple is worth more than $600 billion, while General Electric is worth less than half of that. In fact, Apple holds more than two thirds of the value of General Electric in cash, with over $215 billion on hand.
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Former chairman and CEO of General Electric Jack Welch had an opportunity to purchase Apple for $2 billion and passed at the chance, according to information shared by Bob Wright in an interview with The New York Post about his book The Wright Stuff: From NBC to Autism Speaks.

Back in 1996, when Apple was struggling ahead of Steve Jobs’ return, then CEO Michael Spindler, who took over after John Sculley was ousted, was “practically begging” General Electric to buy Apple.

applege

“The stock price was $20, and [Spindler] was explaining he couldn’t get the company moving fast enough and the analysts were on his case,” Wright told The Post in an interview on Tuesday. “He was sweating like mad and everybody said, ‘We can’t manage technology like that.’ We had a chance to buy it for $2 billion.”

A purchase by General Electric would have radically changed the company’s history and it’s questionable whether Apple would still be around as a brand today had that happened. Later that same year, after GE declined to make the purchase, Apple bought NeXT for $427 million and Steve Jobs returned to lead the company in 1997.

One of Jobs’ first major projects was the iPod, which launched in 2001 and set the company on its current path. The iPhone followed in 2007, the iPad came in 2010, and the Apple Watch, Apple’s newest product, launched in 2015.

As of today, Apple is worth more than $600 billion, while General Electric is worth less than half of that. In fact, Apple holds more than two thirds of the value of General Electric in cash, with over $215 billion on hand.
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Make massive mechanizations with Minecraft’s Overworld update

Following on from last fall’s update to Minecraft: Windows 10 Edition beta and Minecraft: Pocket Edition, which saw the introduction of basic redstone components, Microsoft today announced that the game’s next update will deliver even more advanced m…

Following on from last fall's update to Minecraft: Windows 10 Edition beta and Minecraft: Pocket Edition, which saw the introduction of basic redstone components, Microsoft today announced that the game's next update will deliver even more advanced m…

Nearly One-Third of iPhone Users Still Have 4-Inch Screens

The latest data from Mixpanel shows that approximately 32.22% of active iPhone users still have a 4-inch screen. That is the same screen size as the so-called “iPhone 5se” that Apple is expected to announce at its rumored March 15 event.

Apple has released three iPhone models with 4-inch screens since 2013, including the iPhone 5, iPhone 5c, and iPhone 5s, and some customers still feel these smartphones have the best screen size for pocketability and one-handed usage.

iPhone-4-inch
Apple’s newest 4-inch smartphone, the iPhone 5s, represented just under 20 percent of current iPhones in use, trailed by the iPhone 5 at 7.53 percent and the plastic-backed iPhone 5c at 5.66 percent. The numbers fluctuate slightly in real time.

In the company’s latest earnings call, Apple CEO Tim Cook said that 60 percent of older-generation iPhone users have yet to upgrade to the iPhone 6, iPhone 6 Plus, iPhone 6s, or iPhone 6s Plus.

Right now, customers that want a 4-inch iPhone have to settle for the over two-year-old iPhone 5s’s outdated tech specs, and the smartphone also lacks many new features such as Apple Pay, 3D Touch, and Live Photos.

For that reason, the “iPhone 5se” with a rumored 4-inch screen, Apple’s newest A9 chip, Live Photos, and purported price of around $500 may prove to be a more popular option among prospective iPhone buyers.
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The latest data from Mixpanel shows that approximately 32.22% of active iPhone users still have a 4-inch screen. That is the same screen size as the so-called “iPhone 5se” that Apple is expected to announce at its rumored March 15 event.

Apple has released three iPhone models with 4-inch screens since 2013, including the iPhone 5, iPhone 5c, and iPhone 5s, and some customers still feel these smartphones have the best screen size for pocketability and one-handed usage.

iPhone-4-inch

Apple’s newest 4-inch smartphone, the iPhone 5s, represented just under 20 percent of current iPhones in use, trailed by the iPhone 5 at 7.53 percent and the plastic-backed iPhone 5c at 5.66 percent. The numbers fluctuate slightly in real time.

In the company’s latest earnings call, Apple CEO Tim Cook said that 60 percent of older-generation iPhone users have yet to upgrade to the iPhone 6, iPhone 6 Plus, iPhone 6s, or iPhone 6s Plus.

Right now, customers that want a 4-inch iPhone have to settle for the over two-year-old iPhone 5s’s outdated tech specs, and the smartphone also lacks many new features such as Apple Pay, 3D Touch, and Live Photos.

For that reason, the “iPhone 5se” with a rumored 4-inch screen, Apple’s newest A9 chip, Live Photos, and purported price of around $500 may prove to be a more popular option among prospective iPhone buyers.
Discuss this article in our forums

Instagram Testing Multiple Account Support on iOS

Instagram has begun testing multiple account support on iOS, suggesting the feature could be coming to all Instagram iOS users in the near future. Starting today, some Instagram users began noticing an option to log into more than one account in the In…

Instagram has begun testing multiple account support on iOS, suggesting the feature could be coming to all Instagram iOS users in the near future. Starting today, some Instagram users began noticing an option to log into more than one account in the Instagram app, but multi-account support is limited to a small number of users at this time.

instagrammultipleaccounts

Instagram users who have access to the multiple accounts feature will see the option to add additional accounts in the Settings menu through a new “Add Account” heading. Once a second or third account is added, switching between them can be done with just a couple of taps. With multiple accounts logged in, notifications for Likes and Comments will also have a header to let you know which account is receiving the alert.

Multi-user support has been a highly desired feature on Instagram for several years. The first hint of support came in late 2015, when Instagram began testing the feature on Android. It is not clear when multiple account support will see a wider release for iOS users as Instagram has not yet made an official announcement.
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Square’s Latest Reader Available At Apple

Apple Pay Square Square’s latest payments reader is coming to an Apple store near you, the company tells TechCrunch. The devices will retail for $49 and be available online and in-store throughout the U.S. Launched last fall, Square’s new contraption is NFC-enabled and works with Apple Pay. Now the standard in many countries, it accepts EMV chip cards, which are more secure than credit cards… Read More

Apple Pay Square Square’s latest payments reader is coming to an Apple store near you, the company tells TechCrunch. The devices will retail for $49 and be available online and in-store throughout the U.S. Launched last fall, Square’s new contraption is NFC-enabled and works with Apple Pay. Now the standard in many countries, it accepts EMV chip cards, which are more secure than credit cards… Read More

Microsoft is reportedly buying SwiftKey

Microsoft has made a habit out of acquiring significant mobile app makers, but its next deal may cut particularly close to the bone for smartphone fans. The Financial Times’ sources understand that Microsoft is on the cusp of acquiring software keyb…

Microsoft has made a habit out of acquiring significant mobile app makers, but its next deal may cut particularly close to the bone for smartphone fans. The Financial Times' sources understand that Microsoft is on the cusp of acquiring software keyb…

Apple Expands Lower App Store Pricing Tiers to Canada and New Zealand

appstoreApple today followed through with plans to expand its lower pricing tier options for the App Store to Canada and New Zealand. Introduced in 2014, alternate pricing tiers A and B allow developers to charge lower prices in countries like China, India, Indonesia, Mexico, Russia, South Africa, Turkey, and Australia.

With the new pricing tiers, apps in Canada and New Zealand can be priced as low as $0.99 (CAD and NZD). Apple first announced upcoming Alternate Tier A and Tier B pricing options for Canada and New Zealand just over a week ago, when it raised App Store prices in the two countries due to exchange rate fluctuations.

On January 18, the Tier 1 minimum App Store price was raised to $1.39 CAD in Canada and $1.49 NZD in New Zealand. For reference, Tier 1 pricing in the United States is set at $0.99, meaning apps and in-app purchases priced at $0.99 in the U.S. cost $1.39 in Canada and $1.49 in New Zealand. With alternate pricing tiers, developers will now be able to charge $0.99 in the United States while charging a lower price in Canada, New Zealand, and the other countries listed above.

Lower price tiers, Alternate Tier A and Alternate Tier B, now let you offer paid apps and In-App Purchases at $0.99 (CAD) and $0.99 (NZD). Existing apps that already use these price tiers have been automatically updated.

App Store pricing was also raised in Israel, Mexico, Russia, Singapore, and South Africa, with several of those countries already able to take advantage of lower Tier A and Tier B pricing.
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appstoreApple today followed through with plans to expand its lower pricing tier options for the App Store to Canada and New Zealand. Introduced in 2014, alternate pricing tiers A and B allow developers to charge lower prices in countries like China, India, Indonesia, Mexico, Russia, South Africa, Turkey, and Australia.

With the new pricing tiers, apps in Canada and New Zealand can be priced as low as $0.99 (CAD and NZD). Apple first announced upcoming Alternate Tier A and Tier B pricing options for Canada and New Zealand just over a week ago, when it raised App Store prices in the two countries due to exchange rate fluctuations.

On January 18, the Tier 1 minimum App Store price was raised to $1.39 CAD in Canada and $1.49 NZD in New Zealand. For reference, Tier 1 pricing in the United States is set at $0.99, meaning apps and in-app purchases priced at $0.99 in the U.S. cost $1.39 in Canada and $1.49 in New Zealand. With alternate pricing tiers, developers will now be able to charge $0.99 in the United States while charging a lower price in Canada, New Zealand, and the other countries listed above.

Lower price tiers, Alternate Tier A and Alternate Tier B, now let you offer paid apps and In-App Purchases at $0.99 (CAD) and $0.99 (NZD). Existing apps that already use these price tiers have been automatically updated.

App Store pricing was also raised in Israel, Mexico, Russia, Singapore, and South Africa, with several of those countries already able to take advantage of lower Tier A and Tier B pricing.
Discuss this article in our forums

Apple Releases iOS And OS X Updates With Bug Fixes And Performance Improvements

OS X El Capitan Apple just released two software updates for Mac, iPhone and iPad. These are minor software updates focusing mostly and bug fixes, security fixes and performance improvements. On the Mac, OS X 10.11.3 fixes a bug with external 4K displays and a handful of security holes. As for iOS 9.2.1, it includes similar security fixes. Unfortunately, this release doesn’t fix the battery meter bug. Read More

OS X El Capitan Apple just released two software updates for Mac, iPhone and iPad. These are minor software updates focusing mostly and bug fixes, security fixes and performance improvements. On the Mac, OS X 10.11.3 fixes a bug with external 4K displays and a handful of security holes. As for iOS 9.2.1, it includes similar security fixes. Unfortunately, this release doesn’t fix the battery meter bug. Read More