Apple made several new product announcements in March that were significant and have the potential to be disruptive to the marketplace and to the competitive playing field. As iPhone sales started to show evidence of decline, it appeared as if the company was heading into a classic dilemma. Apple was under pressure to demonstrate that it was not intending to rely solely on its hardware capabilities. That said, last month, Apple not only announced the anticipated services like Apple TV+ and News+, but it also revealed its plans to enter the video game and credit card arena.
Breaking into new industries is not new for Apple; The company has previously demonstrated that it can provide useful health data through Apple Watch monitoring and that it can provide financial convenience through Apple Pay. Apple’s latest offerings are taking take some of these older innovations to a new level and introduce new ones as well.
Apple continues to be recognized as an innovative disrupter by providing intelligent and convenient solutions for its customers while spanning many industries and upheaving established companies. Here are some of its latest plans.
Apple Card
One of the more unexpected announcements that was announced at the Steve Jobs Theater in March was the introduction of the Apple Card. In conjunction with Goldman Sachs and Mastercard, Apple announced its plans to release a credit card for its users that will specifically reward Apple Pay enthusiasts by providing rewards on their Apple Pay purchases.
CEO, Tim Cook, explained that Apple believes it can improve the credit card experience by providing better transparency, practically no fees, cash back, intuitive repayment options and financial records. Credit cards are an established necessity in households across the world and Apple believes that it can do a better job, which will most likely push established credit card providers to look for more innovative ways to serve their customers.
Apple Arcade
Within the AppStore will lie a new kind of streaming service: video games. With its March announcement, Apple also announced the upcoming launch of its video game streaming platform, Apple Arcade. Gaming streaming services have not been widely adopted, but this announcement does follow one from Google just a few months back.
This service will feature content by major video game icons like Sega, in conjunction with major brand partnerships like Disney. Implementing a service like this shows that Apple intends to be versatile in it’s approach to serving its customers, by providing valuable services across the spectrum of its customer base. The highlights of the Apple Arcade include offline playability, no ads, and unique and consistent content.