After celebrating the success of Apple's launch of the iPhone 4S on Tuesday, the most valuable firm in the world is mourning two days later over the death of the company's founder and former chairman.

Steve Jobs died of pancreatic cancer on Wednesday at the age of 56. Mr Jobs announced on Aug. 24 his resignation as chief executive officer of Apple and turned over the job to Chief Operating Office Tim Cook when his health turned for the worse. However, Mr Jobs retained the post of board chairman.

"Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve," Apple's Board of Directors said in a statement to announce their founder's demise.

More than just introduce smartphones, tablet computers and other high-tech devices, Apple is credited with changing the lifestyle of people which has spawned intense competition from rival technology firms.

Despite the death of Mr Jobs, legal battles against South Korean firm Samsung Electronics in four continents is expected to continue.

His impact on the industry continues to be felt after his death. Even before the news of Mr Job's death was officially announced, after-hours trading in Apple was stopped.

Matt Honan, a senior reporter for tech site Gizmodo, wrote in his tribute that while Bill Gates may have put a computer on every office desk, "it was Steve Jobs who put one in every dorm room and bedroom and living room."

Frank Quattrone, CEO of Silicon Valley investment bank Qatalyst Partners, credits Mr Jobs' leadership with revolutionizing not only the computer industry but also how the world communicates, plays, shops and works.

"In the entrepreneur hall of fame, he is the charter member. He is, and will remain, an inspiration to the world," Mr Quattrone was quoted by Businessweek.

Now that Mr Jobs is clearly not returning to Apple, analysts see the role of being a product visionary being carried out by the company's head product designer Jonathan Ive who oversaw the development of the company's hit products such as the iMac, iPod, iPhone and iPad.

Although Mr Cook is expected to be a good CEO, he has not shown Mr Job's penchant for product vision since his expertise is on operations such as manufacturing, distribution, sales and customer service.

The task of coming out with new products would be on the executive team made up of Scott Forstall, who takes charge of the iOS software for the iPhone and iPad, Philip Schiller, who heads product marketing, Bob Mansfield, who leads Mac hardware engineering, and Chief Financial Officer Peter Oppenheimer, who oversees the company's over $75 billion cash and long-term holdings.

"The team here has an unparalled breadth and depth of talent and a culture of innovation that Steve has driven in the company.... Excellence has become a habit," Mr Cook said in January.

To continue Mr Job's vision of a post-PC era is Eddy Cue, senior vice president of Apple who was behind the iTunes platform and the upcoming iCloud file-sharing service.

Mr Jobs just left behind a company whose market value is bigger than Microsoft and Dell combined. In fiscal 2010, Apple registered revenue of $65 billion, and despite a post-Jobs era scenario, analysts foresee Apple's revenue exceeding $100 billion in 2011.

The newly launched iPhone 4S is expected to help contribute to reach another record for the tech firm. Apple is also counting on a new service called iCloud to boost its revenue and growth further. iCloud would let users access photos, videos and other content using various Apple devices.

Mr Cook also shared about plans to tap the Chinese market, which under his helm reached $3.8 billion in sales in the last quarter, which is a six-fold increase from 12 months ago.

Analysts and investors believe that a post-Jobs era in Apple is ready to face the challenges from competitors, including the Google threat, mainly because of product lineups that its founder set in motion in anticipation of his death.

Mr Cook assured Apple's employees that the company will not change with Mr Job's death.

"We will honor his memory by dedicating ourselves to continue the work he loved so much," Bloomberg quoted Mr Cook.

Apple investor Peter Sorrentino described Mr Cook as a very competent corporate manager.

"People are going to be looking for that crack of weakness, and they'll be looking at him a lot close than they look at Steve," Mr Sorrentino told Bloomberg.

News of Mr Job's stepping down on Aug. 24 caused Apple's share prices to drop 5 per cent. However, the shares rebounded the following day.

"Steve Jobs running the company from jail would be better for the stock price than Steve Jobs not being CEO," Washington Posts quoted a stock analyst.

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