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Apple shares fall as Jobs quits

25 August 2011 Last updated at 04:47 BST

Steve Jobs has resigned as chief executive of Apple, the company he founded, to be replaced by chief operating officer Tim Cook.

Mr Jobs has been on medical leave for an undisclosed condition since January, and in a statement he said he could no longer meet his duties and expectations.

A raft of new products are expected from the technology giant before the end of the year, and consumers in Washington said they did not think the announcement would have that much impact on the firm.