titan on the horizon: the apple carcit.upc.edu/presentationcarnet/presentations/4.pdf · dr.marc...
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Slide 1Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Titan on the Horizon:The Apple Car
Marc SachonIESE Business School
Slide 2Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Slide 3Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Why?
Slide 4Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Apple: A One Product Company
April to June 2015 iPhone Sales as % of Total Sales
Source: Business‐Insider, July 26th, 2015
Slide 5Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
iPhone: Commoditization
Source: Ibtimes, October 27th, 2015
Source: SpiegelOnline, May 4th, 2016
Slide 6Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
April 2015: iWatch shipped
Apple CEO Tim Cook unveils Apple iWatch at iPhone 6 event in Cupertino on September 9th, 2014
Slide 7Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
May 2016: iWatch with moderate sales
Note: “Other Products” include sales of AppleTV, Apple Watch, Beats products, iPod and Apple‐branded and third‐party accessoriesApple FY runs from end of September to end of September; Q1: Oct‐Dec, Q2: Jan‐Mar, Q3: Apr‐Jun, Q4: Jul‐Sep
Source: Apple Financials
Launch of Apple Watch
Effect of Apple Watch Launch
Effect of Apple Watchis diminishing(2016 vs. 2015)
Slide 8Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Apple: May 2015 – May 2016
Apple
Nasdaq
Source: Apple.com, 10‐May‐16*Note: Apple had approx. 5.5 billion shares outstanding on April 8, 2016
Market Value dropped by more than
$200 Billion*
Slide 9Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Why now?
Slide 10Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
A spiration
U rbanization
Slide 11Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
A spiration
U rbanization
T echnologyO rdinance
Slide 12Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Pure Urban Vehicles
• Small• EV• Focus on interior design• Useability
• Sharing• Modular design• Autonomous
Source: http://www.applesfera.com
Slide 13Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Why should we be worried?
Slide 14Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
The Asset Trap
Slide 15Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Apple Total Net Cash
Source: Zerohedge.com
Note: Market Cap of BMW, Daimler and Volkswagen Group approx. $200 Bn
Slide 16Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
More R&D Spend on Titan than on iPhone
Source: Bloomberg, May 2016
Slide 17Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Buying Engineering Know‐How
Source: FAZ.net, April 2016
Slide 18Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Apple Invests $1 Bn in Didi Chuxing*
Buying Business‐Model Know‐How
*main competitor of Uber Source: Forbes, May 2016
Slide 19Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Can this really happen?
Slide 20Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Nokia, 2007
Source: Nokia 2007Q4 Presentation
Slide 21Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
2007: The iPhone
Source: dorotheacarney.com
Slide 22Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Nokia vs. Apple
Slide 23Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Apple’s Value System: iPhoneStrategy
• Closed Ecosystem:all products tie into it
• Stringent focus on customer needs(known and unknown)
• Product R&D•High quality• Plannedobsolescence
Supply Base
• 200 key suppliers• Close collaboration•Dominant customer: co‐investment in machinery of latest (and exclusive) technology, buys capacity
•High A/P: supplier financing, 90d
Volume
Assembly
•Outsourced• 18 locations (14 China, 2 USA, 1 Brazil, 1 EU)
•Dominant customer
• Low cost country•High flexibility of scale (to adapt to demand)
Data: Apple Inc., 2016
Few SKU
Power
Distribution
•Outsourced• Purchase shipping capacity in advance
•Air freight (high margin product)
Retail
•Own stores: 70% of sales volume
• Product Genius• Full IT integrationof sales staff
•Data fed to whole supply chain needs high scale flexibility
Digital Ecosystem:• Perfect integration with all Apple Products•Well established links (and power) with ICT companies
Design of User Interface / HMI:• Best‐of‐class player
Disruptive Business Models•Apple II• iPod
• iTunes• iPhone• iPad
Slide 24Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Possible Assembers
Source: Magna, 2016; USA Today, May 9th, 2016; FAZ.NET, April 2016
Fiat Chrysler courts Google with self‐driving cars deal
Apple‐Auto soll von Magna gebaut werdenGebaut werden soll das iCar in Österreich. Der dortige Autozulieferer Magna, der dem österreichischen‐kanadischen Milliardär Frank Stronach gehört, hat durch den Wegfall der Produktion des Minis Kapazitäten in Höhe von mehreren hunderttausend Autos im Jahr.
Slide 25Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Flextronics, 2016
Source: Flextronics Investor Presentation, April 2016
Slide 26Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
Any Indications?
Slide 27Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
$1 Billion Investment in Apple
Source: Reuters, May 2016
Slide 28Prof. Dr. Marc Sachonmsachon@iese.edu
Mobility Business DisruptionJune 1st, 2016
“Substitution, I’ve found, is the most deadly factor of all!”Andy Grove
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