Apple remains ahead of its rivals in the ability to innovate and “create magic” despite tougher competition in key sectors like smartphones and tablets, chief executive officer Tim Cook said on Tuesday.
Cook said Apple still has strong growth opportunities because of its ability to work simultaneously on hardware, software and services, brushing aside suggestions that Apple has passed its peak.
“Apple has the ability to innovate in all three of these spheres and create magic,” Cook said during a question-and-answer session at the Goldman Sachs Technology and Internet Conference.
“This isn’t something you can just write a check for. This is something you build over decades,” he said.
Cook declined to talk about any new products, but said he remains upbeat on Apple’s ability to boost sales of its popular iPhones and iPads in markets around the world.
“I’m incredibly bullish about the future and what Apple can do,” he said. “Apple has skills in hardware, in software and in services ... There is no better place for innovation.”
He said Apple was not planning to make a “cheap” product that failed to live up to its standards, but that he was aware that some consumers could not afford some Apple devices.
“Our North Star is always great products, not how to hit a price point,” he said.
He maintained that Apple’s iPhone has “tremendous momentum” in a market which is expected to triple in the coming years.
“The iPhone is available only to around 50 percent of the subscribers in the world,” he said when asked if Apple had reached a plateau. “I see a wide open field. I don’t think about that word called limit.”
When asked if Apple was being overtaken by rivals, he maintained that the appeal is not based on a single details such as screen size or processor speed.
“Customers want a great experience, and they want quality, and they want that ‘aha’ moment,” he said. “What Apple does is sweat every detail ... The customer experience is always broader than what can be defined by a simple number.”
He said Apple’s iPads have outsold the entire line of computermaker Hewlett-Packard and that this market is still growing, even though Apple’s market share has slipped.
He argued that in terms of usage, the iPad has been measured to be used “twice as much as the total of every Android device ... It’s because it’s an incredible experience.”
Asked about a recently filed shareholder lawsuit, Cook said the company was examining ways to distribute more cash to shareholders, but claimed the litigation was “a silly sideshow.”
“This is a waste of shareholder money,” he said of the suit filed by Greenlight Capital, which seeks to block a shareholder vote that includes a management-backed proposal to make it impossible for the Apple board to issue preferred stock without shareholder approval.
Cook said it was “an incredible privilege” to be in the position of deciding what to do with the company’s US$137 billion cash stockpile, and maintained that “we will do so deliberately and thoughtfully.”
However, he maintained that the lawsuit was not about returning cash, but about “the right of shareholders” to authorize any special stock issue.
“Frankly, I find it bizarre that we would find ourselves being sued for doing something that’s good for shareholders,” he said, adding that the company would likely seek shareholder approval even if not required.
“My preference would be for everyone on both sides of this would take the money they are spending and donate it to a worthy cause,” Cook said.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Standard Chartered Taiwan on March 26 announced that it has partnered with international fintech firm FinIQ to build an “Automated Structured Products Pricing Platform.” The bank is also introducing products from global issuers including Goldman Sachs Group Inc, Barclays PLC and BNP Paribas SA. The new platform enables an end-to-end process whereby it finds the most competitive pricing across multiple issuers in a matter of minutes, followed by automated documentation and transaction execution, which significantly shortens time-to-market and delivers a superior wealth management experience. Standard Chartered Bank Taiwan CEO Anthony Yu (游天立) said: “Standard Chartered is increasingly leveraging its wealth management
RSS