| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
The lead marketer for Apple Inc.‘s (NASDAQ:AAPL) Vision Pro headset, Frank Casanova, has retired, just months after the headset’s launch and amid a significant drop in demand.
What Happened: Casanova who departed from the tech giant last week had been with Apple for 36 years. He has played a pivotal role in the marketing of the Vision Pro headset along with helping to lead the expansion of the iPhone to new carriers, reported Bloomberg, citing his LinkedIn page.
The Vision Pro was made available for purchase in early February with a base price of $3,499. Casanova participated in its launch at Apple’s flagship retail store in the Grove shopping mall in Los Angeles, accompanied by services chief Eddy Cue.
Dan Riccio, the executive responsible for the development of the device, is approaching retirement.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: The retirement of key personnel comes at a critical time for Apple’s headset business. The Cupertino, California-based tech giant has plans to expand its market to China, a move confirmed by CEO Tim Cook last month, in a video shared on a CCTV account on Weibo.
However, the demand for the Vision Pro has reportedly fallen sharply, leading to a significant drop in shipment forecasts. This has forced Apple to re-evaluate its headset business strategy, as noted by analyst Ming-Chi Kuo. The company has reportedly revised its Vision Pro shipment estimates to 400,000-450,000 units for this year, down from the initial 700,000-800,000 units.
Apple’s struggles in China are not limited to the headset market. The company also faced a sharp decline in iPhone sales in the country, with a 33% drop in February compared to the last year.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image courtesy – Apple
Posted In: AAPL
