Earlier today Apple released its 2013 Q2 results and announced $43.6 billion in revenue with a net profit of $9.5 billion. Within the press release Apple CEO Tim Cook said their teams “are hard at work” on new products and he was excited about products in the pipeline. This is similar to what we have heard before.
However, in the live earnings calls, Cook shed some light on a timeline of what is coming by actually mentioning this fall specifically:
Our teams are hard at work on some amazing new hardware, software and service that we can’t wait to introduce this fall and throughout 2014. We continue to be very confident in our future product plans.
Rumours have pointed to an iPhone 5S launch this summer, with other reports citing possible delays to the next generation iPhone over issues related to an alleged fingerprint sensor feature. The iPhone 5 was released last October–your guess is as good as mine as to when we can expect a new release. Will we ever hear about the iWatch? The long-rumoured iTV? A retina iPad mini?
Tim Cook Shares His View on the 5-inch Display Smartphone Market
Ben A. Reitzes – Barclays Capital, Inc.
All right, thanks. And Tim, my follow-up just for you, just maybe asking you this every quarter in different ways. But I just wanted to get your reaction to what you thought of the 5-inch phone market at this time versus three months ago? And if anything has changed in your view as to that market and its place in the smartphone world versus your 4-inch product? And that’s it from me.
Yeah Ben, that’s a good question. My view continues to be that iPhone 5 has the absolute best supply in the industry. And we always thrive to create the very best display for our customers. And some customers value large screen size, others value also other factors such as resolution, color quality, white balance, brightness, reflectivity, screen longevity, power consumption, portability, compatibility, apps and many things.
Our competitors had made some significant trade-offs in many of these areas in order to ship a larger display, we would not ship a larger display iPhone while these trade-offs exist.
Cook says Apple will not make compromises to deliver a larger iPhone display just because its competitors are doing so. Last time he said big phones compromise one-handed ease of use Apple customers love. He didn’t mention that reason specifically this time around.
Cook Reassures Apple Has Long-Term Goals in Mind
For all the worry Apple investors have had about the company in the past couple of quarters, Cook did his best to reassure everyone Apple’s play is in the long-term with “participation” in large and growing markets:
The decline in Apple stock price over the last couple of quarters has been very frustrating to all of us. But Apple remains very strong and we will continue to do what we do best. We can’t control items such as exchange rates and world economies and even certain cost pressures, but the most important objective for Apple will always be creating innovative products and that is directly within our control.
We will continue to focus on the long-term and we remain very optimistic about our future. We are participating in large and growing markets. We see great opportunities in front of us, particularly given the long-term prospects of the smartphone and tablet market, the strength of our incredible ecosystem which we’re planned to continued to augment with new services, our plans for expanded distribution and the potential of exciting new product categories.
As much as this sounds great, customers and investors continue to have high expectations for the company and will continue to do so as long as Apple is on top of the tech world. What do you think Apple is going to release next?