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- May 3, 2011
Steve Jobs isn’t the only one getting rich off of Apple‘s (Nasdaq: AAPL) gadgets. Just take a look at SDI Technologies…
Ashkenazi said, “We recreated the $19.99 drugstore alarm clock radio and turned it into a $100 product.” Today that product dominates with a 20% share of the speaker dock market – twice the size of Sony‘s (NYSE: SNE) share.
An increasing number of companies have scrambled to get a piece of the Apple accessories market since the 2007 launch of the iPhone. And if the current trend holds, they could make an absolute killing…
How Apple’s Products Have Exploded the Mobile Accessories Market
Whether it’s batteries, keyboards, or protective cases for Apple’s products, it all adds up to a $26.5-billion accessories business.
ABI analyst Shailendra Pandey writes, “The increasing popularity of iPhone-like feature-rich devices… [is] contributing to the growing demand for mobile phone accessories.”
For instance, Chinese manufacturer, Harry Tong brings in annual sales of $303.8 million from selling plug-in iPhone batteries.
Closer to home, though, one small Utah company is making some big money off the trend that Apple started…
How a Thin Sheet of Plastic Has Sent Zagg Shares Up 30%
Since the beginning of January, Salt Lake City firm Zagg Incorporated (Nasdaq: ZAGG) has been on a tear. Shares shot up as high as 31% on news that it will extend its line of “military-grade” screen protectors for the Verizon (NYSE: VZ) iPhone.
So far, the company has sold more than 17 million invisibleSHIELDs, helping Zagg grow to a $220 million company in less than five years. It’s also allowed it to develop other Apple accessories…
Most recently, the company released the ZAGGMate – an iPad case with an attached keyboard. Since November, the product has raked in more than $2 million in sales.
While it has yet to release full-year results for 2010, Zagg reported third quarter sales growth of 137% over the year prior. And according to Chief Executive, Robert Pederson II, 2011 will “blow away” that number.
It should come as no surprise. After all, thanks to the release of the Verizon iPhone, as well as the company’s 95% share in the tablet PC market, Apple has secured a dominant position for many years to come. And smaller manufacturers like Zagg are set to soar right along with it.
– Alexander Moschina
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Source: Investment U