Question
Apple's risk response strategy has evolved by focusing on innovation and customer experience. Despite the increasing competition, Apple has maintained its position in the market by introducing new features and technologies in its products. It has also focused on providing a seamless user experience across its devices and services. Additionally, Apple has expanded its product portfolio to include services like Apple Music, iCloud, and the App Store, which help to diversify its revenue streams and reduce its reliance on iPhone sales.
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Knowing your risks is just the beginning. In order to plan your response, you'll need a strong risk response strategy. For example, Apple's largest external threat comes from emerging technologies that make it easier for new firms to enter the global market. In 2011, Apple sold 72M iPhones. Even still, its newest model at the time, the iPhone 4, was ranked fourth overall against the top-selling smartphone that year, Samsung's newly launched Galaxy S2. The of this threat has remained high as Huawei and Google have launched their own iPhone competitors. The of these lower-cost competitors is equally high, as iPhones bring in over half of Apple's total sales.
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