Mobile Drives Apple to #1 Most Admired Company, Beats Samsung & Google
Apple is once again the most admired company in the world according to the annual Fortune ranking.
This marks the sixth year Apple took the number one spot, beating out competitors such as Google, Amazon and Samsung. The Fortune ranking comes from a list of 1,400 companies which are narrowed down based on criteria ranging from investment value to social responsibility.
Despite a drop in Apple’s stock price in late 2012 and early 2013, the company maintains the top spot thanks to the company’s mobile product line and popularity, which helped drive $13 billion in net income for last quarter.
While Apple refuses to compete on price, specifically in the mobile and notebook markets, the company is able to beat competitors in units sold, though not every quarter, and is able to effectively set the base price for premium mobile devices like the smartphone and tablet.
In 2012 Apple introduced the iPad mini, a smaller iPad designed to compete with lower-cost competitors like the Google Nexus 7 and the Amazon Kindle Fire HD, but the company priced the iPad mini higher then competitors. Fortune keys in on the fact that many still see these products as “prestige devices:, as a reason for Apple’s continued success.
Tim Cook recently teased that Apple is exploring categories it will not talk about, which may include an iWatch, an Apple HDTV and more. The future product categories are important to Apple, which has been accused of losing it’s cool by co Founder Steve Wozniak and of losing it’s marketing acumen with the most recent iPad ads by Steve Jobs’ former ad man.
While Apple takes top honors as the Most Admired company in the world, Samsung took home the Best Smartphone and Best Device Manufacturer awards from Mobile World Congress for the Samsung Galaxy S3, which is the top iPhone 5 competitor.