Apple’s genius co-founder and former CEO Steve Jobs died Wednesday after losing a battle with pancreatic cancer. He died aged just 56.

The board of directors of Apple Inc. confirmed the news of his death in a statement late Wednesday.

“We are deeply saddened to announce that Steve Jobs passed away today,” the statement read.

“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.

“His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts.”

His passing comes just one day after Apple announced its latest product, the iPhone 4S, which will be available for pre-orders starting Oct. 7 and released on Oct. 14.

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Jobs stepped down as chief executive officer of Apple earlier this year due to health reasons. He was struggling with advanced pancreatic cancer. Tim Cook replaced him as the head and face of Apple.

In the late 1970s, Jobs founded Apple along with Steven Wozniak and Mike Markkula. He was fired in 1985 but returned to the company in 1996.

Jobs is credited with revitalizing Apple into an international brand with the introduction with iMac and later on the iPod.