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→Jobs Return to Apple
===Jobs Return to Apple===
===Jobs Return to Apple===
In 1996, then Apple CEO Gil Amelio negotiated the acquisition of Next Computer and the NEXT STEP Operating System with Jobs. The plan was to use NEXT STEP the new operating system for a new Mac computer. On January, 7, 1997, Apple and NEXT officially merged. By March of 1997, majority of Apples' top executives left after the company experienced the worst quarter sales loss of $700 million. By July, Amelio resigned as CEO of the company. Jobs was named interim CEO and regained full control of the company he co-founded. In 1998, Apple introduced its new slogan, "Think Different" and the iMAC which became the best selling computer. The success of the iMAC made Jobs the permanent CEO of Apple.<ref>[http://lowendmac.com/orchard/05/next-acquisition.html NeXT, OpenStep, and the Triumphant Return of Steve Jobs]</ref>
In 1996, then Apple CEO Gil Amelio negotiated the acquisition of Next Computer and the NEXT STEP Operating System with Jobs. The plan was to use NEXT STEP the new operating system for a new Mac computer. On January, 7, 1997, Apple and NEXT officially merged. By March of 1997, majority of Apples' top executives left after the company experienced the worst quarter sales loss of $700 million. By July, Amelio resigned as CEO of the company. Jobs was named interim CEO and regained full control of the company he co-founded. In 1998, Apple introduced its new slogan, "Think Different" and the iMAC which became the best selling computer. The success of the iMAC made Jobs the permanent CEO of Apple.<ref>[http://lowendmac.com/orchard/05/next-acquisition.html NeXT, OpenStep, and the Triumphant Return of Steve Jobs]</ref>
After Jobs became Apple's CEO, the company started to recover by launching innovative products such as the launching of its first retail store in Virginia<ref>[http://www.encyclopedia.com/topic/Apple_Computer_Inc.aspx Lewis, Scott; Covell, Jeffrey. "Apple Computer, Inc." International Directory of Company Histories. 2006. Encyclopedia.com. 26 Sep. 2011]</ref> and the iPOd in 2001, which sold 4.4 million units by 2004, followed by iTUnes Music store in 2003, iPhone in 2007 and iPad in 2010 and other products.<ref>[http://www.pcworld.com/article/238745/steve_jobs_at_apple_a_timeline.html Steve Jobs at Apple: A Timeline]</ref> By 2010, the company has a total of 317 retail stores both in the United States and internationally. Apple's total revenue for 2010 was $65.2 billion.<ref>[http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=AAPL:US Financial Statement for Apple, Inc. (AAPL)]</ref>
==Market Failures==
==Market Failures==