Smartphone Market

Smartphones were once the most popular innovation in the world, and by now, the majority of people in the United States has a smartphone. A few years ago, Apple invented a tablet called iPad which was overwhelmingly popular in the market. With the success of Apple, other companies also wanted a share of the tablet market. They started designing their own tablets and sold them at much lower prices to increase their competitiveness in the market. Apple’s tablet underwent major changes, from iPad to iPad 2 to the new iPad, and finally to iPad mini. This article talks about Apple releasing the iPad mini, and the tablet competition that it faces in recent years. Around the same time when iPad mini was introduced, their competitors also reduced the size of their tablets. iPad mini’s screen measures 7.9 inches diagonally which is 1.8 inches fewer than the regular iPad. Their competitors’ models are even smaller. Google released its 7-inch Nexus 7 tablet and Amazon recently introduced a 7-inch tablet as well. Less competitive Barnes and Noble also has its Nook table. The most attractive thing to consumers is that these tablets are sold at a much lower price than the iPad does. Although Apple still has a very large market share, this article will discuss the concept behind the influx of tablet from other companies. This phenomenon can be explained by the short-run and long-run supply curves when demand changes. Apple is successful in controlling a big part of the tablet market despite there are several competitors in the market. It is always Apple who initiate changes to the existing technological products and other companies will follow its footsteps. Therefore, Apple is able to gain the most out of the short-run supply curve once the demand changes for consumers. Before iPad mini was released, people were happy with iPad in general despite they thought the screen is a little bit to big and it was not as convenient as smartphones. So this drives up the demand for a