With its emphasis on minimalist design and a simple user experience, the company has defined product categories like the tablet, the smartwatch, and of course, the smartphone. The iPhone is the device that made Apple one of the largest companies in the world and is responsible for most of Apple’s sales. But it’s not the only way Tim Cook and company make money. A full transcript follows the video. Narrator: Most hardware companies have a hard time making money on devices, but not Apple. But that’s not the only way Cupertino’s finest makes money. In this video, we’re going to break down how Apple can turn a profit on hardware, and how it makes more money from its users once they have an Apple product in their hands. There are two popular smartphone operating systems — iOS and Android. The second is open source and is effectively the default for all non-Apple devices. The operating system is all you’ll find on devices from major players like Samsu...