ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Apple Computers, Inc. was founded on April 1, 1976, by college dropouts Steve Jobs and Steve Wozniak, who brought to the new company a vision of changing the way people viewed computers. Jobs and Wozniak wanted to make computers small enough for people to have them in their homes or offices.

Detailed explanation-2: -He was inspired by an article titled “Secrets of the Little Blue Box” from the October 1971 issue of Esquire. Jobs decided then to sell them and split the profit with Wozniak.

Detailed explanation-3: -Steve Jobs was rich and unemployed. Although he wasn’t working at Apple, he was far from idle. During this time, from 1985 to 1996, Jobs was involved in two big deals; the first of which was an investment. In 1986, Jobs purchased a controlling stake in a company called Pixar from George Lucas.

Detailed explanation-4: -Apple bought the company in 1997, and Jobs returned to Apple as CEO. Working for an annual salary of $1 a year (in addition to the millions of Apple shares he owned), Jobs revitalized Apple, and under his leadership, the company developed numerous innovative devices – namely, the iPod, the iPhone, the iPad and iTunes.