Apple launched several new products in 2024, including the Vision Pro mixed reality headset and the iPhone 16 with AI capabilities. The tech giant also entered the generative artificial intelligence market with its introduction of Apple Intelligence at WWDC.
However, the company faced significant challenges, particularly in China where iPhone sales were struggling. Apple’s stock price was downgraded by analysts due to concerns over poor sales in the region. Despite this, the company reported a strong services department and partnered with OpenAI to bring ChatGPT to new iPhones.
Apple CEO Tim Cook has been on frequent trips to China, addressing fears that Donald Trump’s potential tariffs would affect the country as the primary manufacturer of Apple devices. The Vision Pro headset was met with mixed reactions, but Cook said it was meant for “people who want to have tomorrow’s technology today.”
The US Department of Justice accused Apple of maintaining an illegal monopoly on the smartphone market in an antitrust lawsuit. Apple denied the allegations and asked a federal judge to dismiss the case.
In addition to its new products and AI capabilities, Apple also introduced new iPads with OLED displays and partnered with Google and OpenAI to develop AI-powered features for its devices.
Despite the challenges, Apple’s 2024 was marked by notable highs, including the launch of Apple Intelligence at WWDC. The company has high expectations for its next year of iPhones, with analysts predicting a “multi-year supercycle” driven by the AI Revolution.
In 2024, Apple also scrapped some projects, including a subscription service for iPhones and its buy now, pay later service. Instead, the company partnered with Klarna to bring its offering to Apple Pay. The cancellation of these projects was part of a “one-two combo” that helped Apple catch up in AI, according to analysts.
Overall, 2024 has been a tumultuous year for Apple, marked by both innovation and challenges. However, the company’s efforts to enter the generative artificial intelligence market and develop AI-powered features have positioned it well for future growth.
Source: https://www.businessinsider.com/apple-year-included-ai-iphones-intelligence-china-antitrust-issues-2024-12