Apple's Tried and True Device Strategy Won't Work in This New Market

Apple (NASDAQ: AAPL) has a long history of success that it has built around on the idea that it alone knows best how to integrate its hardware and software. That level of control is why its computers and laptops became a massive success, why its iPods did the same, and, most notably, why its iPhones are the powerhouse among smartphones that they are today. 

But this strategy may not be so effective in the smart speaker space. Apple will officially enter this market when its HomePod starts shipping in December, but its chief competitors --  Amazon.com (NASDAQ: AMZN) and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google -- are already firmly in the lead, and both have opened up their devices to developers and third-party partnerships. Apple is keeping the HomePod, along with its Siri virtual assistant, mostly closed to developers -- and that could be a huge mistake this time around. 

Image source: Apple.

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Source: Fool.com