Joseph (Joe) Conway, Senior Vice President, and Head of Foreign Exchange Business Development at Brown Brothers Harriman.
There is no doubt that Apple’s success has caused other companies to review their product strategies. Part of Apple’s formula is to constantly innovate new versions, products and updates.
The steady roll out of versioned products with new functionality can be viewed as innovation push and demand pull, where demand is enhanced by perceived expiration of the old product. This is apparent in consumer products like Apple’s, where the iPhone 5 is immediately distinguishable from the iPhone 4. As soon as the new version comes out, the iPhone 4 becomes outdated, and the older 3S nearly obsolete in popular terms. But as Steve Jobs said: 'If you don't cannibalize yourself, someone else will.'