Apple Company History from 1996-1997
Amelio made a strong effort to bring Apple back to profitability, but his efforts would prove to be largely unsuccessful. Following his first 100 days as CEO, Amelio announced broad changes in the corporate structure of the company. The company was to be split into 7 separate divisions, each responsible for its own profit or loss. He has also made an effort to keep developers and customers better informed about the day-to-day affairs of the company. Although the company announced a staggering $740 million loss for Q1 1996, they brought that loss down to $33 million for Q2, beating all estimates by the best financial experts. In Q3 Apple profited nearly $30 million, again astounding financial experts, who had predicted a loss of as much. (Apple lost considerably more in Q4.)
In late december 1996, Apple made an industry-shattering announcement that…
Read the Full Story at apple-history.com
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