 This is the VOA Special English Economics Report. The chief executive, who presented the latest and coolest electronics to the world, has stepped down. Steve Jobs announced his resignation as head of Apple in a letter. He wrote, Unfortunately, that day has come. Steve Jobs and Steve Wozniak started Apple Computer in 1976. The company sold a new kind of electronic device, the personal computer. Apple Computer grew more quickly than anyone could have imagined. In 1985, however, Steve Jobs resigned after disputes with managers who had been brought in to direct business operations. He soon started his own software company, Next, and bought a computer animation studio. The Pixar Movie Studio would go on to create movies like Toy Story and Finding Nemo. They are two of the most successful animated films ever made. Apple struggled during the 1990s. Many products failed. The company began losing money and its stock price sank. In 1997, Apple bought Next and brought back Steve Jobs. Apple used software developed at Next to create the Mac OS computer operating system. The next year, Apple became profitable and a series of highly successful products followed. In 2001, Apple released the iPod, a digital music player. The iPhone arrived in 2007. Apple has also been a leader in online marketing. The iTunes Music Store sells songs for download. The App Store sells applications for computers and mobile devices. Steve Jobs is closely linked with the success of Apple. Investors were scared when he announced he had an operation for pancreatic cancer in 2004. His decision to leave comes as Apple continues to release winning products. Apple sold over four and a half million iPads in the first three months of this year. The company holds the largest share of the growing tablet computer market. On August 9th, Apple first passed Exxon Mobile Corporation to become the most valuable publicly traded company in the world. Since then, the two companies have traded the lead. For VOA Special English, I'm Alex Villareal. You can learn English and stay informed every day from your computer or mobile device at voaspecialenglish.com. You can also find us on Facebook, Twitter and iTunes at VOA Learning English.