The Newton, Apple’s initial attempt at a tablet computer, was abruptly discontinued in 1998 when Steve Jobs assumed leadership of the firm for the second time. Although the Newton is viewed as a failure, Jon Sculley, Apple’s former CEO, claims that it really prevented the business from going bankrupt. Additionally, it aided in the beginning of the prosperous chip design business ARM Holdings. Sculley claims in an interview with Cult of Mac that a new CPU was required when Apple decided to construct the Newton. To create the Newton microprocessor, Apple and Olivetti, an Italian computer manufacturer, acquired a 47% interest in the faltering British business Acorn. Eventually, ARM Holdings morphed from Acorn. It went public in 1998, right as Apple was discontinuing the Newton. And just when Apple’s reputation was at a low moment. According to Sculley, Apple received about $800 million when it sold its ARM stock. Without that cash, Apple might not have survived. So, in a strange sense, the Newton (and ARM) managed to save Apple. Today, the semiconductors that power iPhones, iPods, iPads, and the Apple TV are built using ARM’s designs. So, in a roundabout manner, you might claim that ARM is now assisting in keeping Apple in operation.
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