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John Ternus, Apple\u2019s new CEO, has been leading the $4.8 trillion company<\/a> for about a month. In that short span of time, the 51-year-old CEO introduced the iPhone Duo, Apple\u2019s groundbreaking new foldable. The phone positions Apple to better compete with Samsung, which has been in the foldable market for seven years.\u00a0<\/p>\n There are other areas where Apple is playing catch-up. For instance, the company is reportedly eyeing the smart glasses market, where Meta is the undisputed leader and companies like Snap are introducing competitors. According to a new Bloomberg report<\/a> citing unnamed sources, Ternus has communicated a strategy to colleagues: To move forward, Apple must develop products more quickly and venture into experimental markets fearlessly.\u00a0<\/p>\n Ternus is setting out to remake Apple\u2019s inner workings. For one, the former hardware engineering chief<\/a> is pushing to expand the company\u2019s device lineup. His proposals, shared internally with employees, provide the clearest early view of how he plans to put his stamp on Apple after succeeding Tim Cook, who led the company for 15 years.<\/p>\n Ternus is weighing major changes, including breaking from Apple\u2019s familiar spring and fall launch calendar and introducing products more frequently. Changing Apple\u2019s usual cadence of announcements could take years, according to employees who spoke with Bloomberg.\u00a0<\/p>\n Ternus also wants to cut management layers that can distance engineers from the company\u2019s top decision-makers.\u00a0<\/p>\n Bloomberg\u2019s sources said that cost-cutting efforts are also underway as Ternus looks for room to fund Apple\u2019s next wave of products. The work is part of a broader push to make the business more efficient, ranging from its internal structure to the way executives manage its hardware and software.<\/p>\n At the same time, Ternus is looking for additional growth engines and ways to generate more revenue from Apple\u2019s vast array of devices, per Bloomberg.\u00a0<\/p>\n The urgency is particularly acute in services, a division that has long been one of Apple\u2019s most profitable businesses. The segment includes the App Store, subscriptions, advertising, payments and cloud offerings. Services revenue still climbed 12% year<\/a> over year to a record $30.74 billion in Apple\u2019s June quarter, but it fell short<\/a> of Wall Street expectations.\u00a0<\/p>\n Apple is reportedly preparing to introduce a packed lineup of devices next year, including AirPods with built-in cameras, smart glasses and a special-edition iPhone to mark the product\u2019s 20th anniversary.\u00a0<\/p>\n The ambitious pipeline gives Ternus a reason to move quickly. It also intensifies the pressure to deliver more products without adding more people and ramping up spending.\u00a0<\/p>\n That philosophy has long shaped Ternus\u2019s view of Apple\u2019s organization. As head of hardware engineering, he urged employees at an all-hands meeting to keep hiring in check, per Bloomberg. In one presentation, he showed Apple\u2019s annual headcount growth and made the case that the company needed to increase output without continuing to expand its headcount at the same pace.<\/p>\n That background fuels anxiety within Apple that there could be a round of job cuts later this year or early next year, even as the company prepares to release highly anticipated products.<\/p>\n<\/p><\/div>\n John Ternus, Apple\u2019s new CEO, has been leading the $4.8 trillion company<\/a> for about a month. In that short span of time, the 51-year-old CEO introduced the iPhone Duo, Apple\u2019s groundbreaking new foldable. The phone positions Apple to better compete with Samsung, which has been in the foldable market for seven years.\u00a0<\/p>\n There are other areas where Apple is playing catch-up. For instance, the company is reportedly eyeing the smart glasses market, where Meta is the undisputed leader and companies like Snap are introducing competitors. According to a new Bloomberg report<\/a> citing unnamed sources, Ternus has communicated a strategy to colleagues: To move forward, Apple must develop products more quickly and venture into experimental markets fearlessly.\u00a0<\/p>\n Ternus is setting out to remake Apple\u2019s inner workings. For one, the former hardware engineering chief<\/a> is pushing to expand the company\u2019s device lineup. His proposals, shared internally with employees, provide the clearest early view of how he plans to put his stamp on Apple after succeeding Tim Cook, who led the company for 15 years.<\/p>\n<\/p><\/div>\nTernus\u2019 reported goals<\/h2>\n
Key Takeaways<\/h2>\n
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