Taking Apple Inc.(Apple) as a case, this paper highlights Apple's market-oriented strategy on the acquisition of intellectual property(IP) and also emphasis on the use of IP. Apple looked at long-term IP layout, thereby creating its own beneficial ecosystem. In addition, Apple also effectively achieved the commercialization of IP by applying the patents in the product design and manufacturing, created and protected a unique commercialization mode based on IP to realize the value of IP. Beyond the protection function of IP, it also used its IP in commercial competition to maintain, consolidate and improve its competitive position. To improve the industrial competitiveness, China’s smart mobile terminal companies should not only focus on the acquisition and protection of IP, but also pay more attention to the utility of IP. At the same time, they also need to innovatively use the concept and form of the IP. Moreover, in terms of personnel training, they also need to build a talent pool of IP experts.