Steve Ballmer: Microsoft made a big mistake by investing in Apple

Steve Ballmer called the mad act of providing Microsoft financial assistance to Apple, which is on the verge of bankruptcy in 1997. A cash injection of $ 150 million helped the Cupertinians to get on their feet and outperform their competitors, providing Apple with market dominance and the title of the most expensive company in the world. This was told by the former head of Microsoft in an interview with Bloomberg TV.

They did a great job. We did a great job. If you remember 1997, when Steve Jobs returned, they were on the verge of bankruptcy, we invested in Apple as part of the settlement of the claim. We, Microsoft, have invested in them, "Ballmer said.

It can be said that this was one of the most insane acts ever committed by us. They took as a basis of great innovation, cash and became the most expensive company in the world.

In 1997, Apple and Microsoft reached an agreement on cross-licensing of patents. Microsoft promised to provide Mac with the office suite in exchange for installing Internet Explorer as the default browser. In fact, this step was taken in order to improve the competitiveness of Microsoft and protect the company from accusations of monopolizing the market.

Investing in Apple, Microsoft did not even suspect what it might turn out for her. With the advent of iPod, and then the iPhone and iPad, the personal computer market has changed forever.

During the crisis, Apple cost less than 3 billion. Now its capitalization exceeds 700 billion - almost three times more than the indicator of Microsoft.

The article is based on materials https://hi-news.ru/phone/stiv-balmer-microsoft-sovershila-bolshuyu-oshibku-investiruya-v-apple.html.