Tech superpowers Apple Inc. (NASDAQ: AAPL) and International Business Machines Corp. (NYSE: IBM) announced plans to worth together in order to create business-oriented products by combining Apple’s expertise designing consumer-friendly products and IBM’s established ties to corporate IT.
When their alliance was announced, investors cheered the project, expecting that the deal would yield significant benefits for both firms; so far, that appears to be true.
Earlier in December, the two that they had created more than 100 business apps targeting 14 different industries for some 65 different job roles. The joint effort has created iPhone and iPad apps that allow professionals to use the technology in order to manage industry specific tasks and make the devices more attractive to niche industries and job functions.
The announcement suggested to investors that the partnership is proving to be a fruitful one, and that 2016 will see more of the same.
For Apple, picking up more corporate customers is an important way to help keep iPhone and iPad sales from declining. Many are predicting that the company’s iPhone sales will drop in the coming year and iPad sales have already been on the decline. By appealing to the business world, Apple is likely to gain new customers and offset slower demand.
For IBM the partnership marks a transition toward cloud-based software. The firm has seen its revenue decline for years, and the company is hoping to turn things around by relying more on cloud computing.