This research work is carried out to evaluate the financial and performance impact ofnew product development with reference to a case of Apple Inc. Roseau et al (1996) opinedthat product development, also called new product management, is a series of steps thatincludes the conceptualization, design, development and marketing of newly created ornewly branded goods and service. The objective of which is to cultivate, maintain andincrease a company’s market share by satisfying a consumer demand.New product development is one of the instruments being used by the companies tosecure and sustain growth, to raise profitability and increase or maintain current marketshare. New Product development is advantageous to the business that introduces somethingcompletely new- they expressly earn significant returns and gain a long-term competitiveadvantage (Zantout and chagant, 1996). Frequently, business organizations conduct justsome moderate or considerate change in their products line. However, according to Pauwelset al (2003), such product developments have positively concrete impacts on the firm’s top-line and bottom-line financial performance and on the firm’s value both in the short-run andlong-run. Also, the firm’s value and financial impacts of product development increases ourtime while promotional activities associated with new product tend to decrease company’svalue in the long run (Pauwel et al. 2003).One of the obvious new product development industries is mobile communication andpersonal computer industry in which Apple Inc is a case to study. This is a type of industrywhere the manufacturer is the one creating demand; not waiting for the time the consumerunderstands what he needs. The stiff competition makes it swiftly develop and stimulatetechnological changes. As a result, Mobile Communication and personal computer industryproducts have short life-cycles and need to be constantly replaced by newer ones for the firmto get competitive advantage and to perform financially better. According to Bayus et al(2003), new product development in mobile communication and personal computer industrypositively affect company’s asset growth and profit rate but it decreases sales, general andadministrative expenses intensity rater than increase in gross operating return.