Tim Cook: We Love to Work on Products Where Hardware, Software, and Services Intersect
During today's earnings call covering the first fiscal quarter of 2021 (fourth calendar quarter of 2020), Apple CEO Tim Cook was asked to provide a framework for how Apple evaluates product opportunities in new markets.
Cook of course declined to give specific information, but he did provide some insight into what Apple considers when making a decision on whether to develop a product.
The framework that we use is around 'Is this a product that we would want to use?' That's a pretty high bar. Is it a big enough market to be in? Unless it's an adjacency product, then it's about customer experience.
There's no set way that we're looking at it. No formula. But we take into account all of those things.
Cook said that Apple "loves to work on" products where there's a requirement that hardware, software, and services come together. "We believe that the magic really occurs at that intersection."
He also went to explain that Apple still has growth opportunities for its current portfolio of products.
I think that we have some really good opportunities out there, and if you look at our current portfolio of products, we still have relatively low share in a number of cases in very big markets. We feel that we have really good upside there and good upside in the services area too, which we've been working on for some time with coming online in the last year to year plus.
Though Cook gave no specifics, there are established rumors that indicate Apple is working on an electric self-driving vehicle and some kind of AR/VR headset, both of which are future products that will mark Apple breaking into new markets.
Related Stories
Apple CEO Tim Cook will be one of the speakers at the upcoming "Viva Technology" conference, being held digitally and physically between June 16 and June 19, according to a tweet from the conference's official page (via iMore). Based out of Paris, France, the conference is an opportunity to break down "traditional barriers between grassroots innovators and global leaders" and is "Europe's...
Friday February 19, 2021 2:06 am PST by
Sami FathiIn an interview with He Shijie, a senior at the Beijing University of Posts and Telecommunications, Apple CEO Tim Cook called 2020 Apple's "top year of innovation ever."
In 2020, Apple released a number of new products, ranging from the iPhone 12 lineup, to brand new iPads, the Apple Watch Series 6 and SE, and of course, new Apple Silicon Macs. Putting all of that together, Tim Cook says...
Apple today announced financial results for its second fiscal quarter of 2021, which corresponds to the first calendar quarter of the year.
For the quarter, Apple posted revenue of $89.6 billion and net quarterly profit of $23.6 billion, or $1.40 per diluted share, compared to revenue of $58.3 billion and net quarterly profit of $11.2 billion, or $0.64 per diluted share, in the year-ago quarter...
In a recent interview with the Toronto Star, Apple CEO Tim Cook spoke about a wide variety of topics, ranging from App Tracking Transparency to Apple's ongoing legal battle over App Store policies with Fortnite creator Epic Games.
Notably, Cook said that Epic Games' desire for Apple to let developers offer their own payment systems in apps "would make the App Store a flea market":At the...
Today is the one of the last days of the Epic Games v. Apple trial, and Apple CEO Tim Cook has taken the stand to ask questions levied by both Apple and Epic lawyers.
Cook's testimony won't be integral to the outcome of the trial, but what he has to say is of interest because this is the first time that he's testified in a legal case, which highlights the serious nature of this dispute....
Apple CEO Tim Cook and Malala Yousafzai recently sat down for an interview as part of British Vogue's Conversation series, where the two talked about life after COVID, Yousafzai's and Apple's activism, the importance of education and learning to code, and more.
Apple has partnered with the Malala Fund to support girls' education, helping the organization by assisting with technology,...
Back in 2015, Apple considered purchasing Time Warner, with Apple iTunes chief Eddy Cue suggesting Apple bid on the media conglomerate.
Discussions did not ultimately progress and there was no purchase, but CNBC today provided some previously unknown background information about the talks between the two companies.
Eddy Cue met with Time Warner CEO Jeff Bewkes and former executive vice...
Apple's Wearables, Home, and Accessories category reached record revenue numbers in the second fiscal quarter of 2021 (first calendar quarter), hitting $7.8 billion, up from the $6.3 billion it earned in the year-ago quarter.
Wearables, Home, and Accessories growth revenue was up a total of 25 percent combined. Apple CEO Tim Cook said that wearables growth was up thanks to strong sales of...
Apple's annual shareholders meeting took place this morning in a virtual format, allowing shareholders to vote on proposals and submit questions to Apple executives. Apple does not typically reveal product info in shareholder meetings, and 2021 was no exception. Much of what was said was a recap of the Q1 earnings results and a reiteration of Apple's policies on privacy, the environment, and...
Apple's services category, which includes the App Store, Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, Apple News+, Apple Fitness, and more, saw record growth during the second fiscal quarter of 2021 (first calendar quarter). According to Apple's earnings report, the services segment brought in $16.9 billion, up 27 percent from the $13.4 billion in revenue...
Top Rated Comments
Perhaps their investments in mini and micro-LED will at some point translate into television screens.
I agree with Tim. Apple does a good job with integrating features across its products in my opinion. It is one of the reasons I stay with Apple. That doesn't mean that the integration has been seamless or bug free so, don't misinterpret my appreciation as blind praise.