News hit the television and radio stations yesterday as Steve Jobs CEO of apple resigned with immediate effect.

It was a surprise but Jobs has been battling with pancreatic cancer for the past few years, but was incredibly private about his illness.

Steve Jobs was the co-founder of Apple and brought the iPhone, the iPad and other amazing apple products to the world.

56-year-old Steve Jobs will be replaced by Tom Cook, chief operating officer but will remain chairman of the corporation.

In his note to the company, Jobs penned, “I always said if there ever came a day when I could no longer meet my duties and expectations as CEO of Apple, I would be the first to let you know” and unfortunately, due to health issues that day has come.”

What does this now mean for Apple? Well customers will not notice any difference, Jobs guided the company to where is it today, one of the most innovative and popular brands in technology. Apple will continue to produce groundbreaking technologically advanced hardware for years to come, in fact, they believe they have only just scratched the surface with products such as iPod, iPhone and iPad.

The downside of such news is that Apple shares dipped down more than 5%, which suggests that investors’ confidence has decreased with Mr Jobs not being at the top commanding post in Apple.  Competitors HTC gained shares by 4.1% and Samsung grew by 3.2%.

Thanks to its innovative products, Apple has become one of the most desired brands in the world.  From the beginning of April until the end of Jun 2011, Apple sold 20 million iPhones, which made a profit of $7.3BN.

Steve Jobs originally co-founded Apple alongside Steve Wozniak in the 1970 and rivalled companies as personal computers became incredibly popular.

Although to friends and colleagues this is sad new, to consumers Apple will continue to produce groundbreaking products that will saturate the market.