Click to Skip Ad
Closing in...

iPhone and iPad competitors could benefit from Jobs's resignation

Updated Dec 19th, 2018 7:26PM EST

If you buy through a BGR link, we may earn an affiliate commission, helping support our expert product labs.

Apple’s iPhone and iPad competitors could benefit with Steve Jobs out as CEO of Apple. “It’s going to give competitors a bit more of a lease of life to go out and compete harder,” Nomura International Plc. technology analyst Richard Windsor told Bloomberg, which noted that Sony and Nokia’s stock prices jumped after Jobs’ announcement. “It’s been thought about, talked about endlessly for the past several years that Tim Cook would probably take over so while you get an initial knee-jerk reaction on the downside, we would probably expect that not to last very long.” Apple will also need to maintain the momentum and market lead that Steve Jobs created as CEO. “If the new management team doesn’t sustain the level of innovation that Steve Jobs spearheaded, it’s going to be an opportunity for the competition in the long term,” Korea Investment Management Co. fund manager Lee Young Seog said. “Still, because of Tim Cook’s competence and the system at Apple, the competitive landscape isn’t likely to change anytime soon.” Steve Jobs announced his resignation from his CEO post on Wednesday and he will be replaced by Tim Cook, who has effectively been running the company while Jobs has been on leave. “Apple’s brightest and most innovative days are ahead of it,” Jobs said in his resignation letter on Wednesday.