At the age of 56, Apple co-founder Steve Jobs has announced his resignation from the role of CEO, after an extended period of medical leave. Although the technological visionary will still play a significant role in the development of the company, as chairman, this still marks a poignant time in the history of this innovative brand.

It’s impossible to overstate the contribution Jobs has made to the modern world. It seems ridiculous that anyone would be unable to recognise the Apple brand today, but it wasn’t so long ago that The Simpsons, at the height of its popularity, poked a satirical jibe at the company’s decline. Ironically, it was around the time of this episode (‘Homerpalooza’) that Jobs returned to Apple to spearhead their return, not only to prominence, but towards a technological revolution. The iconic first incarnation of the iMac lead the way, and since then iSomethings have gone on to change the way we buy and listen to music, the way we create art, the way movies are made (also, let’s not forget Jobs’ work turning Pixar from a failing hardware firm into the world’s most forward-thinking film company), but most significantly; the way we communicate. The iPhone and iPad have also gained significant ground in the war against paper and buttons, as well as lighting the touch-paper of inspiration for numerous other companies to step-up and compete.

BBC reports that Apple’s stock has dropped 5% since Jobs’ announcement, with Samsung and HTC seeing rises of 3% and 4% respectively. It remains to be seen whether this is a catalyst for a more level technological playing field, but if ever there were a time for Apple’s rivals to gain ground it is now. It all depends who will be next to be first.