> Was there pent up demand for iPhones that was sated by their creation? Yes, correct. That’s spot on. A lot of people were crying out for a powerful, capable,

> Was there pent up demand for iPhones that was sated by their creation? Yes, correct. That’s spot on. A lot of people were crying out for a powerful, capable, usable mobile computer to access email, the web and use applications on the go. The mobile networks had invested billions building network capacity to meet these needs. This is why there were huge queues for the very first iPhone before hardly anyone had even touched one. The mobile industry had been full of speculation about what devices we would use on these networks, how they might work and what they would look like. Before the iPhone was even announced I could tell you very clearly what I needed a mobile device to be able to do for me, but not how it would do it. Apple figured that bit out. Think about it this way. If latent demand didn’t exist, how could Apple have figured out what device to design? How could they select the features and capabilities and prioritise them? They had to target a market, even though that market didn’t exist yet. Without thinking about latent demand that sort of novel product development would be just random feature selection and then see what gets traction. For sure some companies do that, but not all. Some of them think it through and target a market they hypothesise exists.