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Apple Loses $10 Billion in Worth Following Jony Ive’s Departure

Apple’s chief design officer, Jonathan Ive, is leaving Apple to form his design agency, sending shockwaves into the US markets inflicting Apple to lose nearly 10 billion. Ivy was the figure responsible for designing Apple’s most iconic products like the iPod and iPhone. Apple declared Ive’s departure and added that he might be forming an independent design firm with Apple among its main clients. Regardless of leaving Apple, Ive is anticipated to work Apple closely on its future products.

Post the announcement; Apple shares witnessed plenty of action on Nasdaq. Firm’s shares had jumped 1.5% to $197.44 – representing a considerable $US9 billion drop in value.

“Jony is a singular figure within the design world and his position in Apple’s revival can’t be exaggerated, from 1998’s benchmark iMac to the iPhone and the original spirit of Apple Park, where lately he has been putting a lot of his power and care,” mentioned Tim Cook, Apple’s CEO.

Ive is going to launch his design agency called LoveFrom later this year with another well-recognized designer, Marc Newson.

The 52-year old Ive started working with Apple in the early 1990s and was the “nonsecular associate” of the iconic founding father of Apple Steve Jobs.

Ive in his assertion stated, “After almost 30 years and numerous missions, I’m most proud of the lasting work we have carried out to create a design group, process and tradition at Apple that’s without a companion. At present, it’s stronger, more vibrant and more proficient than at any point in Apple’s history,” said Ive.

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