Apple CEO Tim Cook said the company's blockbuster holiday quarter proved that the company did not need to make a cheaper iPhone in order to continue to grow its smartphone business. He reiterated that Apple will not make a less expensive iPhone for the sake of making one, and will continue to focus on making great products.
Apple posted a blowout holiday quarter with sales of 74.5 million iPhones and $18 billion in net profit. The results were way above forecasts from most Wall Street analysts. "We'd like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high," said Tim Cook, Apple's CEO. "Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."
According to a new Reuters report, Apple is hiring a dedicated sales force and working with application developers in the area, an effort by the company to ratchet up its push into the mobile enterprise market following a deal in July with corporate powerhouse IBM.
Apple is going to start selling its Apple Watch in the spring of 2015, according to an internal company communication leaked to 9to5Mac. The report, citing an unnamed source's transcript of a video message sent by Apple retail chief Angela Ahrendts, said the launch will come after the Chinese New Year and in the spring, which is a little later than some had expected.
Apple CEO Tim Cook indicated he is open to working with Chinese e-commerce giant Alibaba and its billionaire founder Jack Ma, who expressed an interest in partnering with the iPhone maker in mobile payments.
Apple CEO Tim Cook on Wednesday met in Beijing with Ma Kai, China's vice premier, according to Chinese state news agency Xinhua, and "exchanged views on protection of users' information." The meeting came just days after a report emerged that indicated Chinese-based hackers had attacked users of Apple's iCloud cloud storage service in the country.
Apple put a major new focus on how it safeguards its users' private information and launched a website to keep its customers better informed of how their data is stored and protected. Meanwhile, amid concerns that its new iPhones and forthcoming Apple Watch wearable device will be collecting reams of health data, the company reportedly sent emissaries to quell concerns in Congress.
Apple said it took a record 4 million preorders for its iPhone 6 and 6 Plus in the first 24 hours of availability, which started last Friday. The company did not say how many preorders it took during the first weekend of preorder sales; retail sales for the phones start Sept. 19.
Apple ramped up its R&D spending over the past few years, and a number of products the company is working on are so secret they have not even generated whispers and gossip among the public, according to CEO Tim Cook.
Apple's much-rumored smart watch is expected to be released in the fourth quarter and will be highly tied to health monitoring, according to a New York Times report.