Will Former Apple Inc. (AAPL)’s CEO Rival His Ex-Employer In Phone Business?

Will Apple Inc. (NASDAQ:AAPL) be rivaled by its own Former CEO, John Sculley? John Sculley was CEO of Apple Inc. (NASDAQ:AAPL) from 1983 – 1993, post which Steve Jobs took over as CEO. Sculley has set up a new business and is currently launching low cost smartphones and they cal it Obi Mobiles. Sculley talked on CNBC about his new smartphones and Apple Inc. (NASDAQ:AAPL).

Apple Inc AAPL

Sculley mentioned that he is only focused on the emerging markets, since the design for smartphones has been monetized. He said that he brought in a tech team from Silicon Valley, who worked with him at Apple Inc. (NASDAQ:AAPL).

“We think we can differentiate in a commoditized market with very disruptive prices with great design and with good marketing,” Sculley said.

If Sculley’s Obi Mobiles becomes a big hit in emerging markets, then they may potentially stand as a rival to Apple Inc. (NASDAQ:AAPL). Sculley said that Tim Cook is doing a spectacular job in Apple Inc. (NASDAQ:AAPL) and he feels that Apple Inc. (NASDAQ:AAPL) has got a number of good years ahead of it.

“We are focused at an entirely different market, […] We will never be in US. We are focused at the early adopters, young teenagers up to their early 20s getting their first smartphone. They may aspire to expensive products like Apple, but they just don’t have the budget. So we are in that $100 – $200 price range,” Sculley said in response to rivalry for Apple Inc. (NASDAQ:AAPL).

Sculley wrote and published a book recently named Moonshot. He said the biggest shift that has happened in the markets, which he mentioned in his book, was the power shift that has happened. He said the power in markets has shifted from manufacturers to customers. He thinks that it is mainly due to advancements in technologies like cloud, data analytics and other high tech items. He feels that customers are paying more attention to other customer’s opinion these days. He thinks that this trend opens up a lot of opportunities, which he called as game-changing strategies in his book.

Disclosure: None

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.