Tim Cook: Our Apple TV ‘Hobby’ Had Over $1 Billion in Sales in 2013

According to Reuters, Apple CEO Tim Cook revealed today at the company’s shareholder meeting at its Cupertino headquarters their Apple TV ‘hobby’ generated over $1 billion in sales last year alone:

“It’s a little more difficult to call it a hobby these days,” Cook told shareholders at the company’s headquarters in Cupertino.

The Apple TV has long had a retail price of $99 USD and has remained the popular but silent product in the company’s line up, winning over customers with its ease of use especially its AirPlay functionality. Achieving $1 billion in sales for the device is significant for Cook to reveal, especially with rumours a new refresh is imminent.

Earlier today a US-only promo was launched to offer a $25 iTunes Gift Card with all new Apple TV purchases, signalling the company’s desire to offload existing stock and possibly making room for a new model.