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Apple launched the iPhone in 2007, and unit sales reached an astonishing 47.7 percent market share in the smartphone industry by 2015. The global smartphone market is expected to grow at an annual rate of 9.8 percent through 2018 due to the growth in China and other markets. Currently, Apple's iPhone SBU appears to be a
Cream Skimming
The practice of selectively choosing the best or most profitable customers, clients, or opportunities, often leaving less desirable ones for others.
Import Substitution
A development strategy that emphasizes domestic manufacturing of products that were imported.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.
National Security
National security involves the safety and defense of a nation, including its citizens, economy, and institutions, protected against threats ranging from terrorism to foreign invasions.
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