Apple is 'closer than it's ever been' to launching new product category, says CEO Tim Cook
Apple announced its second-quarter 2014 results yesterday, so that means it's time for the company's CEO to reiterate that new products and new product categories are in the works. And that's just what he has done.
Apple has repeatedly promised to introduce new stuff - with Tim Cook, CEO of Apple, conveniently giving statements on the matter shortly after almost every quarterly earning call. After Apple's fourth-quarter 2013 results, for instance, Cook once again teased consumers. Specifically, he said we could expect to see "exciting new products" and new product categories in 2014. Today, he has said similar things to The Wall Street Journal.
When asked if Apple plans to break into new product categories this year, Cook said Apple is taking its time working out every detail, and he felt great about what's coming. He also claimed Apple is "closer than it’s ever been" but didn't elaborate on what new product or new product category is coming. Cook also didn't provide a timeline. He just Apple is closer to announcing a new product category than it was "at the end of January, yesterday or ten minutes ago".
Keep in mind however that Apple expects $36 billion to $38 billion in revenue for the next quarter that ends in June. Because Apple predicted even less revenue than it earned in Q2 2014, which saw no new products, it is safe to assume that Apple won't debut any new product categories or truly innovative things in the coming months (aside from the usual WWDC refreshes).
“You want to take the time to get it right. Our objective has never been to be first. It’s to be the best. To do things really well, it takes time. You can see a lot of products that have been brought to market where the thinking isn’t really deep and, as a consequence, these things don’t do very well," Cook said. "We don’t do very many things so we spend a lot of time on every detail and that part of Apple isn’t changing."
Cook also reminded The Wall Street Journal that a new product doesn't necessarily mean new hardware. He said Apple has roughly 800 million iTunes accounts with credit cards behind them, and people are using Touch ID to buy things across Apple Stores. Despite the potential of these combined services, Cook claimed mobile payments is an area where "nobody" has figured out just yet.
"I realize that there are some companies playing in it, but you still have a wallet in your back pocket and I do too which probably means it hasn’t been figured out just yet," Cook added, without specifying if Apple is working on a mobile payments solution that might debut in 2014.
Apart from mobile payments, Apple is rumoured to release a health-focused smartwatch sometimes this year. The company is also reportedly working on a completely revamped Apple TV set-top box, 12-inch Retina MacBook Pro, iPad Pro, and a few other things. None of these products have been confirmed by Apple, though. For more information on what else Apple could do in 2014, check out some of Pocket-lint's predictions.