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Apple drops from 1st to 17th spot on ‘most innovative companies’ list

Last year’s title holder giant Apple has fallen down the 17th spot on Fast Company’s 50 most innovative companies in the world list for 2019.

According to a report by cnbc.com, the tech giant did not ‘break new ground’ for this year compared to their 2018 innovations and has now been replaced by Chinese app maker Meituan Dianping.

Fast Company senior editor Amy Farley said: “They didn’t really break new ground with their devices, and hardware sales were sluggish.”

Despite its sudden drop from the list, Apple’s investment in processors was recognized by Fast Company.

“They are making chips in-house that really are able to run those data intensive operations like AI, AR, high-end photography — things that will make their devices more powerful going forward. So they are laying the foundation for years of innovation,” Farley added.

Part of the most innovative companies list are Grab which took the second spot, the National Basketball Association (NBA) on the third spot, Walt Disney Company earning the fourth spot, and Stitch Fix which completed the top five.

Apple was in the fourth spot last 2017 before earning the title the following year.

(Photo source: digit.in/ caixinglobal.com)