Five years ago today Apple introduced the iPod. The video above shows Steve Jobs explaining why Apple decided to develop the iPod and what he thought differentiated the iPod from the competition.

It’s hard to believe now (Apple shipped 8.7 million iPods in the last quarter), but at the time the analysts didn’t think it would be a success. It was expensive ($399) and could only be used with a computer which had less than 5% of the market share for personal computers (the Mac).

PC World has interesting article looking at why the iPod did become the market leader.