Since the success of the Apple II, the company has gone from a roaring success to almost bankrupt when some of its products like the Apple III, Liza, and the earlier versions of the Mackintosh did not really quite make it well in the market. Perhaps the biggest change that the company undertook this 2007 is the dropping of the word computer from its corporate name. By dropping the word computer name, Apple, Inc. is firming claiming its place in the electronics industry to become a media convergence company. The announcement of the change of name of the company was done right after they announced the launching of their new products the Apple TV and the Apple iphone. Technically, the announcement of the change of name is very symbolic on the part of the people behind Apple Inc.Another very significant move on the part of Apple is that it is partnering solely with Cingular for its iphone products. The iphone offers a squad-band GSM support and is specifically designed to fit into the Cigular Wireless LLC’s data network and at the same time provide a seamless connection to internet access. Another notable development in the company in 2007 is the aggressive expansion of its Apple Stores which have reached around 180 establishments as of April 2007. Note that the Apple Stores were opened in 2001 to promote the products of the company. Apple stores are now located in the United States, Japan, United Kingdom, Canada, and Italy.One of the major challenges that the company has to face in 2007 will change it is organizational setup and its brand positioning in the market. The marketing of the iphone could pose a formidable challenge considering that Apple Inc. is partnering solely with Cingular Wireless. Having Cingular Wireless as its sole partner in selling the iphone, it effectively narrowed down its market to the subscribers of Cingular Wireless. Since most subscribers of Cingular Wireless already have their own phone and have signed contracts with the company on the use of their existing phones, switching to the iphone may not be very easy.