Apple CEO Tim Cook Hints 'Great Stuff' In 2014, $14B Stock Buyback; Steve Wozniak Makes Controversial Statement
By Reissa Su | February 7, 2014 7:32 PM EST
Apple Inc.'s CEO Tim Cook has revealed Apple will introduce products in new categories in an interview with the Wall Street Journal. Like in any interview, he avoided getting into the specifics but only hinted that Apple is working on "really great stuff."
Apple Inc CEO Tim Cook speaks about the new iPad Air during an Apple event in San Francisco, California Oct. 22, 2013.
Cook has previously said in December that Apple will venture into new product categories in 2014. The recent interview may be perceived as a move to assure investors that Apple continues to be a "growth company."
The Apple CEO said the company continues to explore significant opportunities in existing product lines and new product categories. Apple will focus on becoming the world's number one maker of smartphones, tablets and computers.
In a statement, Cook said Apple has no intention of making products for the sake of making profits. He claimed Apple does not strive to make the most number of phones unlike other players in the smartphone industry.
Cook cited Apple's goal is to make a great product for it is part of Apple's identity as a company. He said if Apple can't achieve that goal, the company will not resort to setting a price point to make a product "we're not proud of." In line with Apple's company culture, Cook said the company will lose its identity if it happens.
Apple executives have repeatedly stressed over the years beginning with Co-founder Steve Jobs that money does not drive them to make the best products. Cook has previously noted Apple is committed to make great products that enrich people's lives.
Apple has bought back $14 billion of its stocks in the past two weeks. The recent move has increased Apple's total stock buyback to $40 billion shares in a span of 12 months. He remarked it was a record-breaking buyback for a company in a similar period. He said Apple will reveal more updates on its stock buyback by March or April 2014.
Steve Wozniak Suggests Apple Should Make Android Phone
Wozniak gave a controversial statement at the Apps World North America conference in San Francisco. In an interview with WIRED, he said Apple should release an Android phone and make the Android market a secondary one.
He may no longer be part of Apple's operations as a company but his opinions and statements about the company he started with the iconic Steve Jobs were well-noted. He suggested Apple could "play in two arenas at the same time."
In the remote possibility that Apple will decide to follow his advice, making an Android phone is technically possible since Android is an open source operating system. If Jobs, known for his fierce belief in a closed operating system, were alive today, what would he think of his friend's suggestion? The world may never know.
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