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→Jobs Return to Apple
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>
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>
===Jobs Steps Down as CEO===
On august 2011, Jobs resigned as CEO of Apple. In his resignation letter Jobs wrote, "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple." <ref>[ http://www.businesswire.com/news/home/20110824006503/en/Letter-Steve-Jobs Letter from Steve Jobs]</ref> As per Jobs recommendation, Cook was named CEO of the company and Jobs was Chairman of the Board.<ref>[http://www.macobserver.com/tmo/article/apple_names_tim_cook_ceo_steve_jobs_as_chairman/ Apple Names Tim Cook CEO, Steve Jobs as Chairman]</ref>
==Market Failures==
==Market Failures==