Five years ago: From Steve to Tim

Tim Cook's name is clearly associated with promoting the smartphone boom worldwide. Under him, the iPhone has become Apple's most important product. The Cupertino-based company recently reported the sale of its one-billionth smartphone. The iconic gadget accounts for up to two-thirds of the firm's earnings.

It was to be feared that any other new product would pale besides the iPhone. But the Apple Watch, which Cook unveiled in 2014, has managed to stand its ground. The CEO is keeping mum about sales figures, but analysts estimate 1.5 million units are sold every quarter, also creating substantial profits.

Not every foray Tim Cook made into enlarging the company's product range proved a success, though. Take Apple Maps. The Web mapping service launched in 2012. Users back then were not amused because of the many bugs it "featured." The app also completely ignored the needs of people using public transportation.

Only a year into his time as Apple's CEO, Cook decided to change some vital aspects of the firm's corporate culture. Among other things, he said good-bye to the policy of unconditional cash hoarding and announced shareholders would be paid a dividend - for the first time in 17 years! Apple's cash reserves have swollen further to some $232 billion (205 billion euros) all the same.

Like his predecessor, Cook doesn't want to leave anything to chance. And he wants to make sure Apple doesn't miss out on any major tech developments. To secure a bit of the promising music streaming business, the firm shelled out $3 billion to take over Beats. It also invested another billion in Chinese ride-hailing service Didi Chuxing and a lot more money in the Siri voice assistant.