Apple Inc. (NASDAQ:AAPL) might just be the largest company on Finland’s Prime Minister, Alexander Stubb’s hitlist. CNBC‘s Joe Kernen reported on why the Scandanavian country’s Premier blames Apple for the economic woes of his country, which received a downgrade from Standard & Poor’s, as its AAA long-term sovereign credit rating was cut to AA+.
“[…]Alexander Stubb suggesting that Finland’s economic down turn and ratings downgrade developed for the fall of two key industries, the iPhone taking out Nokia while the iPad could end the nation’s paper industry, which has fallen on hard times recently […],” reported Kernen.
Stubb seems to be a little out of touch regarding the market shares of the global smart phone industry in which Apple Inc. (NASDAQ:AAPL) is not the biggest share holder. However, it does have a more than just strong presence. Maybe Stubb just wanted to blame the company that started it all. In today’s world, some companies get blamed for replacing workers with machines while others like Apple Inc. (NASDAQ:AAPL) for their efforts to conserve environmental resources. In this case the resource is the trees and the product being the iPad.
Moreover, there are paper industries which have been thriving, even in the presence of Apple Inc. (NASDAQ:AAPL)’s products. Perhaps Stubb should concentrate on other forms of wood pulp usage such as in industrial packaging, rather than blaming the failure of the economic segment on lack of demand for printing paper.
Moreover, the case of Nokia is no different too. At least in terms of where the blame should lie. It’s a nail biting business environment in the world today with consumers demanding diminishing margins and latest innovation from the manufacturers. If Nokia wasn’t able to maintain its position of eminence, it is not Apple Inc. (NASDAQ:AAPL)’s fault. The company’s management is to be blamed for that.
Of all the criticisms that Apple Inc. (NASDAQ:AAPL) has received lately, this will worry Tim Cook, Apple’s CEO, the least.
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