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Following Apple’s earnings release yesterday, Tim Cook expectedly teased new products on a conference call with Wall Street analysts and investors. Hints of new gadgets were also dropped in Apple’s media release announcing the earnings.
“We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market,” Cook was quoted as saying in Apple’s press release.
And now responding to pressure from analysts who demand new-category devices, Cook sat down with The Wall Street Journal on Thursday to reflect on Apple’s development process, touch on such subjects as mobile payments and explain why Apple isn’t rushing out new stuff to market just to please investors…
In the interview, Cook admits that it will take new blockbuster products to revert the notion that the company is declining, quipping that “Maybe it will take some new products.”
Here’s your money quote:
You want to take the time to get it right. Our objective has never been to be first. It’s to be the best. To do things really well, it takes time. You can see a lot of products that have been brought to market where the thinking isn’t really deep and, as a consequence, these things don’t do very well.
We don’t do very many things so we spend a lot of time on every detail and that part of Apple isn’t changing. It’s the way we’ve operated for years and it’s the way we still operate. I feel great about what we’ve got coming. Really great and it’s closer than it’s ever been.
As for mobile payments, this is what Cook had to say:
I think it’s a really interesting area. We have almost 800 million iTunes accounts and the majority of those have credit cards behind them. We already have people using Touch ID to buy things across our store, so it’s an area of interest to us.
And it’s an area where nobody has figured it out yet. I realize that there are some companies playing in it, but you still have a wallet in your back pocket and I do too which probably means it hasn’t been figured out just yet.
Discussing Apple’s earnings yesterday with the NBC, Cook reiterated that the firm’s “laser focus” separates it from the competition.
“I think some companies decided that they could do everything,” he said, alluding to Samsung’s strategy of throwing enough mud at the wall to see if some of it will stick. “We know we can only do great things a few times, only on a few products.”
“We are not ready yet to pull the string on the curtain but we have got some great things that we are working on that I am very, very proud of and I am very, very excited about,” he also said in a question-and-answer session with Wall Street analysts following the earnings release.
And yes, Apple is embarked on entering some new categories.
“We currently feel comfortable in expanding the number of things we are working on,” he said. “So we have been doing that in the background.”
“When you care about every detail and getting it right, it takes longer to do that,” said the CEO. “That has always been the case. That is not something that just occurred.”
If you ask me, Cook thus far has mentioned phrases like “laser focused” and “exciting new stuff in the pipeline” too many times to be dismissed automatically as PR talk.
Naysayers be damned, Apple is of course working on new stuff as we speak.
“There is no shortage of work going in on that nor any shortage of ideas,” he said.
This process is taking time and the company will delight us with exciting new innovation when its management feels that products in development are up to Apple’s high standards, not when crazypants analysts in their wet dreams think they should be ready.
You're reading Cook On Why Apple Isn’t Rushing Out New Products
Apple CEO Tim Cook still sees great potential in the Chinese market despite a drop in its revenue from the country in the first quarter.
In an interview to Jim Cramer of CNBC’s Mad Money program, Cook said Monday that the middle class in China is expected to boom from 50 million people five years ago to almost 500 million in the next five years. “This is an unprecedented growth of the middle class,” said Cook, adding that he “could not be more optimistic about China.”
To a question from Cramer, Cook said it was an error by him not to to mention the figures about the burgeoning Chinese middle class during the company’s recent earnings call.
Apple reported last month that the number of smartphones it sold worldwide fell by 16 percent to 51.2 million units in its fiscal second quarter ended March 26. The company saw a 26 percent year-on-year decline in revenue from Greater China, its second largest market. The revenue drop in mainland China was less at 11 percent.
The company’s overall revenue and profit for the quarter also fell from the same period last year. But Cook’s message on CNBC was that Apple was still doing fine, despite some investors and analysts expressing reservations about the outlook for the company.
Apple is facing iPhone fatigue and pressure is mounting for the company “to innovate a new wow design beyond its standard rectangle form factor,” said Neil Mawston, executive director at research firm Strategy Analytics, for example.
The company is to an extent the victim of its own success in the previous year with the iPhone 6. People are upgrading at a lower rate than they did last year but still higher than the year before, as the company had an “abnormally high upgrade rate” last year as people bought into the iPhone 6, Cook said. “Now we are comparing to that along with the other things going on that many companies are facing with currency rates and macro economics, etc.,” he added.
Cook said the company is seeing higher rates of people switching from Android phones to iPhones, which was the largest ever in the last six months.
In China, its second largest market by revenue, switchers were up 40 percent from the first half of last year to the first half of this year, Cook said. The new 4-inch iPhone SE is doing well in that market and the company hopes to resolve soon with Chinese government agencies and businesses the issues that forced it to take its books and movie services online.
Services such as books and movies is an area in which the company sees great potential. Revenue from services, including Apple Music and the App Store, grew 20 percent to US$6 billion in the first quarter, and is the second largest revenue segment for the company.
The relationship with Apple doesn’t stop when people buy an iPhone, but continues with users buying apps across the App Store, or subscribing to Apple Music, buying songs, renting moves, using Apple Pay and buying additional storage on iCloud, Cook said. All this follows from the number of people using Apple devices and there are currently over a billion in use, he added.
Services may be also an area for Apple’s merger and acquisitions. The company has said it may do bigger M&As than previously. “Could it come in services? Yes, and we’ve bought some companies to help us in services. But it can also come in a number of other areas,” Cook told Cramer.
Apple Watch can be an excellent health monitor just by wearing it, but there are some opt-in features that you need to turn on to access. Even if you don’t plan on working out with Apple Watch, you may want to double check that these health-monitoring features are turned on so you can get the most out of the Apple Watch.Update watchOS
First, make sure you’re running the latest version of watchOS, the software that powers your Apple Watch. Some features require newer versions of watchOS to work, and all features work best when your Apple Watch is up-to-date. Our step-by-step guide can help you check what version of watchOS your Apple Watch is running and help you update to the latest version.
You’ll also want to know which Apple Watch model you have before going forward. Some features require newer Apple Watch hardware even if you have the latest software. Our guide can help you identify which Apple Watch model you have, and Apple explains which health features work with which watch in this useful chart:Heart Rate Alerts & ECG
The built-in heart rate sensor on Apple Watch powers a variety of useful heart monitoring features that passively work in the background. If you have Apple Watch Series 1 or later (sorry, the original Apple Watch is excluded), your Apple Watch can alert you when it detects three things.
High Heart Rate alerts are sent when Apple Watch detects a heart rate above 100-150 beats per minute during a 10 minute period of inactivity. You can set which threshold triggers the alert based on 10 bpm intervals.
Low Heart Rate alerts are triggered when Apple Watch notices a heart rate below 40-50 bpm for a 10 minute period. You can set the threshold based on 5 bpm intervals.
Irregular Rhythm alerts notify you when Apple Watch identifies multiple heart rhythms that could be atrial fibrillation, a condition that may lead to “stroke, heart failure and other heart-related complications” according to the Mayo Clinic.
Each of these features can be turned on and customized in the Watch app on iPhone under the Heart section on the My Watch tab.
If your Apple Watch notifies you that an irregular heart rhythm has been detected and you have Apple Watch Series 4, you can now take an electrocardiogram with the new ECG app right from your Apple Watch. You can use our guides to learn how to access the ECG app and capture the best results when taking an ECG before sharing results with your doctor.
If you have an Apple Watch Series 4, you can also use the upgraded heart rate sensors to capture your current heart rate with faster readings and higher fidelity using the Heart app and Digital Crown.Fall Detection
Apple Watch Series 4 also introduces fall detection thanks to its upgraded accelerometer and gyroscope, but it’s only on by default if the Health app knows you’re 65 or older. From my Series 4 review:
This feature intelligently detects when someone wearing Series 4 falls, presents an option to call emergency services or dismiss the alert, then automatically calls emergency services and notifies your emergency contact if you don’t respond within one minute of a detected fall.
Fall detection is turned off by default if you’re under 65. Apple says that’s because younger people often participate in activity that could be mistaken for a fall, like playing sports, but you can turn it on manually.
You can turn it on manually regardless of your age in the Emergency SOS section of the Watch app on the iPhone.
You may also want to take a moment and update your emergency contact information from your iPhone using our guide. Apple Watch uses this information when a fall is detected and you become unresponsive so it can automatically notify your emergency contact.
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It’s almost a decade since I first suggested that we might one day see an Apple Bank. Given that not even Apple Pay existed back then, I’ll be the first to admit that it seemed a pretty out-there idea at the time.
By 2023, it seemed significantly less of a stretch, and yesterday’s billion dollar news brought us even closer …
I can’t take much credit for the 2013 piece, given that it was 1st American Card Service’s CEO who alerted me to the Secure Enclave tech behind Touch ID being tailor-made for a secure payment service.
Brian Roemmele, CEO of 1st American Card Service, said that Apple’s attempt to solve the problem of how to develop a truly secure access system goes all the way back to a patent application in 2008, but it was only through the A7 chip – specifically created by ARM with mobile payment security in mind – that the company finally had a gold-standard solution. And its applications will go far beyond iPhone unlock and iTunes purchases.
“There are dozens of applications and use cases on the roadmap,” he wrote, “and I am certain a developer economy will build around this amazing technology. One that is very clear is retail payments and Apple will have quite a number of unique ways they will solve real problems for merchants and iPhone users. I can say this aspect of Touch ID will be more magical then what we have seen thus far.”
I simply extrapolated from there.
Since then, of course, Apple has made quite a few moves in this direction.Apple Pay
Launched a year later, in 2014, Apple Pay immediately became the leader in the mobile wallet space, with more than a million cards added in the first few days. Its main competitor, CurrentC, closed its doors just two years later. By 2023, Apple Pay was accounting for 5% of the world’s card payments.
Once Apple Pay launched, it seemed to me that things were unlikely to end there, and the iPhone maker would move further and further into the financial world. I listed seven reasons why I thought Apple might become a bank – even if I was optimistic on timing.Apple Cash
Apple quickly started successfully competing with the established players – Square, Venmo, and PayPal.Apple Card
2023 saw the launch of the Apple Card. Other cards offered better cashback deals, but it still proved incredibly popular thanks to Apple branding, the world’s simplest and fastest sign-up process, and great account management through the Wallet app.
By early 2023, with the card still only available in the US, the Apple Card hit almost 7M users. One report suggested that 60% of cardholders use it as their primary card.
2023 saw two further financial product launches …Apple Pay Later
First announced last year, and set to launch later in 2023, the Apple Pay Later service was delayed until this year. It began a gradual rollout a little over a month ago.
As with the Apple Card, Apple Pay Later didn’t offer the best short-term financing option out there, but again brand-name, painless sign-up, and instant access made it appealing.
More on this in a moment.Apple Card Savings Account
Launched last month, the Apple Card Savings Account offers 4.15% interest, compounded daily – an attractive rate for an instant-access account. But again, the branding and ease of account opening plays a significant role in take-up.
Which was … significant! It reportedly attracted deposits of $400M on its first day, and had hit almost a billion dollars just three days later.Apple now has some banking licenses
With Apple Pay, Apple Card, and the Apple Card Savings Account, the Cupertino company partnered with existing banks and finance companies. Apple was essentially the brand for services actually offered by other companies.
There were many who thought this would always be Apple’s model – use its branding and ecosystem to acquire customers, take a cut from its partners, while avoiding the need for any kind of banking or credit license. Plenty of profit, zero risk, zero legislative bureaucracy.
But Apple Pay Later took a different approach. Here, Apple created a financial subsidiary – Apple Financing LLC – and this company obtained the necessary licenses to operate some banking services directly.Increasing focus on Services
A related development over the course of the past decade has been the growing importance of Services to Apple’s bottom-line.
Yes, Apple may be a hardware company first and foremost, but its Services are now a massive business on their own. Services brings in more revenue than each of Mac, iPad, and Wearables.
And sure, banking generally isn’t a very profitable business. But neither is the smartphone business, nor the PC business. If there’s one company which knows how to turn a profit when others can’t, it’s Apple.Today, an Apple Bank looks much less of a stretch
“The reality, of course, is that it will never happen. Apple is extremely cautious about venturing into other areas. I would think that Apple buying Tesla is 50 times more probable than Apple becoming a bank.”
“I don’t see it happening. The level of government scrutiny and regulation that goes with banking isn’t on line wth Apple’s MO. Apple enjoys innovation and free thinking which is difficult to do is such a regulated industry.”
“All your arguments are rock solid but there’s one big reason why this will never happen: Apple isn’t interested in becoming a bank. Apple has become really successful because of one thing only: razor sharp focus.”
Still, even then, some 41% of you agreed that Apple would at some point become a bank, with only 30% dismissing the idea.
It’s now clear that Apple wants to move cautiously, step by step, product by product, so my five-year timescale was overly ambitious. But now more than ever, it does seem to me that this is the logical end-point of an ever-growing portfolio of financial products – with Apple Pay Later proving that the company is unafraid of getting involved with banking licenses and regulations.
So I stand by my view that Apple will one day become (or, better stated, include) a bank, though I do now expect the pace to be slower than I’d once imagined. I fully expect the company to follow the same strategy it does for hardware products – target premium customers, and only engage in the most profitable banking activities – but it won’t be the first full bank to do that. Becoming a bank legally doesn’t mean you have to offer all banking activities, nor offer accounts to anyone.
Oh, and as was pointed out in 2023, Apple Inc (or Apple Financing LLC) might need to come to some sort of arrangement with the New York-based Apple Bank for Savings.
What say you? I didn’t include a poll in 2013, but by 2023 the poll results were (combining ‘Within 5 years’ and ‘Later’):
Photo: LYCS Architecture/Unsplash
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If there’s one thing that really came as a surprise this month, it’s certainly not the iPad mini, or any other product announcement, but the executives shake up and shuffling at Apple. SVP of Retail John Browett is gone, and that’s a good thing, and really, hardly a surprise. The biggest surprise was that he was hired in the first place. The real bombshell in yesterday’s abrupt announcement is the departure of SVP of iOS Software, Scott Forstall.
Although it was the biggest kick, Apple’s press release also told us that Ive would now be in charge of Human Interface (aka everything design), iOS and OS X groups are now one, Maps and Siri are now part of the Internet Services unit, and Mansfield will lead the new Technologies group.
Now that we’ve gathered a little more information about the news and that I’ve had time to really soak it in, I’d like to share my thoughts on the situation, and what it all means for the new Apple…Timing
First, the announcement, which came as a surprise to anyone outside Apple, was made at a convenient time. As Ryan Jones remarks, there might be chances that the announcement was made yesterday as the markets were closed in the US due to hurricane Sandy. Apple is an opportunistic company, and the chance to tame down potentially harmful movements of the stock might have been too good to pass. Or maybe the announcement had been scheduled for yesterday for a while. We’ll never know.Forstall out
At the beginning of the year, Fortune’s editor Adam Lashinsky published his book “Inside Apple,” in which he revealed that “Scott Forstall stands out among the rest of Apple’s executive team as the most likely to succeed Steve Jobs once the Tim Cook era is over“. Indeed, seen for a long time as the successor for Steve Jobs once Cook would be out, Forstall almost felt like a natural fit. Brought by Steve Jobs himself from NeXT, Forstall is largely responsible for the success of iOS as we know it today. For those of you that are interested in learning more, we recently published a story on how Forstall built his iOS team on the early days of the iPhone.
Known as a political man with an abrasive personality, Forstall had more enemies than friends at Apple. The rumor has it that he couldn’t be in the same room as Mansfield and Ive unless Jobs or Cook were here to mediate the meeting. That sure doesn’t look as a healthy work environment, especially at such a high level. But Forstall was Jobs’ favorite kid, and he clearly had made things happen at Apple, so the decision to fire him must have be a hard one to ponder.
What might have sealed his fate could be the obvious failure of Maps and the fact that he didn’t want to sign a public apology for Apple’s shortcomings in its new mapping service. Instead, Tim Cook himself took the responsibility for it, and wrote an open letter apologizing for Apple’s Maps flaws.
Don’t worry, few will miss Forstall at Apple, as Om Malik highlights, “Forstall’s firing was met with a sense of quiet jubilation, especially among people who worked in the engineering groups.”
So what’s next for Forstall? What’s next for you when you’ve helped build the best mobile operating system? A job at Google? I doubt Forstall would take a job at Google to work on Android. I believe Forstall has more drive and ambition than working on Android. A job at Microsoft? His brother works there so that wouldn’t be too far out of his reach. Windows Phone 8 is refreshing, original, and different. That sounds like a challenge. But maybe the most suitable job for Forstall, given his personality, would be to work for himself, possibly as a consultant. Last option for Forstall? Retirement. He recently cashed out about $40 million worth of Apple stocks, and he probably has more. No matter what happens, you shouldn’t worry too much about Scotty.What about iOS?
iOS now goes under the supervision of Craig Federighi, who will lead both iOS and OS X. This is hardly a surprise and really makes sense considering the obvious convergence of the two operating systems. No matter how you look at it, the line between OS X and iOS is getting more and more blurry, and it’s only a natural decision to put them both under the same roof. More close control, more uniformity, more consistency.
There is a strong sentiment that now Forstall is gone, iOS is in deep trouble. I think it’s a normal feeling to have at first, but when you look at it more closely, this feeling might not be justified.
iOS, formerly known as iPhone OS, has been out for five years now. Along the years, Apple has made it better and stronger, and although it still lacks some very obvious features, you’d have to be an Android fanatic to believe iOS isn’t the best mobile operating system in the world.
The iOS train is on. The iOS train has been going on for 5 years and it’s going at full speed right now. Forstall might have been a major piece of the puzzle in the past, but now that the foundations are solid, he isn’t really needed anymore. In short, he’s done his job, and he can now leave because iOS will be in good hands with people that are as capable, if not more capable than he was.
Craig Federighi is a rising star at Apple, and if he does as good a job as he did with the recent releases of OS X, then one should not worry about iOS. Remember that the hardest part of the iOS job is done. We’re now basically on maintenance mode.Human Interface
Ive is now in charge of Human Interface at Apple, which is a fancy term for “everything design”. As I see it, Jony Ive is now Apple’s right brain, the side that’s in charge of artsy and esthetic things. Is that a good thing or a bad thing? I’m not sure yet. Ive has clearly proven himself as a brilliant and revolutionary industrial designer, but does that make him a brilliant decision maker when it comes to everything related to design? I don’t know.
According to Om Malik’s sources at Apple, “There is a sense of excitement around Jony Ive taking over as in charge of newly created human interface group. The reason for the excitement: hope for a new design direction for many software products.”
I, for one, wouldn’t mind a new design direction for iOS. I wouldn’t be surprised if iOS 7 came with a revamped GUI and got rid off the aging pinstripes that are plaguing many parts of the OS, such as the Settings app for example. Ive’s disdain for skeuomorphic design might have the best of many gimmicky elements of the iOS design (think the shredder in Passbook) as well.
The big picture is also, once again, that a sense of uniformity is being created. With Ive in charge of Human Interface for both OS X and iOS, I expect to see more consistency and homogeneousness in Apple’s operating systems.Maps and Siri: it’s big business
Prior to yesterday’s shuffling, Maps and Siri were falling under the iOS business unit. It was Forstall’s responsibility and, as we saw, it might have been his downfall too. Maps and Siri are now part of the Internet Services group, under the direction of Eddie Cue. As the press release highlights, “This group has an excellent track record of building and strengthening Apple’s online services to meet and exceed the high expectations of our customers.”
To me, the fact that Maps and Siri are now part of a more focused business unit means two things. One, Apple is really serious about Maps and Siri. Two, it’s just getting started.
Maps and Siri were two products that were shipped way too early. I know, Siri is still labeled as a beta product, but I don’t care. The reality is that Siri is rarely helpful, even when she understands me. Maps is the same way. It shipped too early. It wasn’t ready, and Tim Cook had to publicly apologize for it. Moving the two products to a business oriented unit tells a lot about the faith Apple has in Maps and Siri. They’re not two “nice features to have” anymore. They’re critical products, in Apple’s eyes.
Siri is a personal assistant, but I think that in the grand scheme of things, Siri represents “search”. Maps, well, represents “maps”. And who is the leader in search and mapping service right now? Google, of course.
Apple understands that the future is mobile. The future is that instead of launching a web browser and typing a query, I will just verbally speak what I’m looking for, and my phone will give me answers. In this perfect Apple world, Google is out of the picture. There is no more need for Google as most search results can be provided either by an app, or by a third party partner (ie. Wolfram Alpha). This is a major blow to Google, whom, let me remind you, makes four times more money from iOS than it does from Android.
The rationale is the same with Maps, although to a lesser extent. In the end, stronger search and maps for Apple, means even more control for Apple. It’s in the company’s DNA, and whether you love it or hate it, you’re going to have to deal with it. This control is what has made Apple the most valuable company in the world.Going forward
Understandably, this situation can come across as worrisome, but it seems to me it was very well thought through and laid out. The new organization chart makes real sense to me. As a matter of fact, it makes even more sense to me today than it did two days ago. It is a logical and natural step forward. A step that will increase uniformity and consistency among Apple products, but also a step that will put emphasis on critical business units and grow them to their full magnitude.
If you are getting The page isn’t redirecting properly error on Firefox browser, here are some helpful tips to fix the issue. This error is similar to ERR TOO MANY REDIRECTS on Google Chrome. However, there are a few reasons why you might be getting this problem while opening a particular website.
The entire error message says something like this-
The page isn’t redirecting properly
Firefox has detected that the server is redirecting the request for this address in a way that will never complete.
This problem can sometimes be caused by disabling or refusing to accept cookies.
For your information, there are two different categories of solutions. You can fix it as a regular user and a site admin. Both types are mentioned in the following list, and you can follow them accordingly.The page isn’t redirecting properly error on Firefox
To fix The page isn’t redirecting properly error on Firefox, follow these steps-
Delete cookies of a particular website
Clear browsing data
Scan PC for adware
Check WordPress site URL
Check .htaccess file
Check SSL installation.
Let’s find out more about these tips and tricks.1] Delete cookies of a particular website
As this problem mainly occurs due to old cookies stored in the browser, you should remove them from Firefox. It is relatively straightforward as you do not need add-ons. To get started, try to open the website even if it doesn’t load and shows the error message.
At last, restart your browser and try to open the website. Apart from that, you can use the Clear Data option in the Privacy & Security section to delete all cookies and site data only.
Read: Clear Cookies, Site Data, Cache for specific website in Chrome, Edge, Firefox2] Clear browsing data 3] Disable add-ons
If it opened successfully, it is time to enable those add-ons one after one to find the problem-creating add-on.4] Scan PC for adware
Adware can act in different ways, including not letting you open any website in your favorite browser. That is when you should scan your PC for adware and remove them as soon as possible. Although plenty of similar tools are available in the market, we recommend using AdwCleaner or Ultra Adware Killer to get a satisfactory result.
These are some handy solutions to fix the error on Firefox.
If you are a website admin, you can continue reading the following troubleshooting tips.5] Check WordPress site URL 6] Check .htaccess file
If you are using an Apache server, the .htaccess file plays a vital role. From settings up a redirection to customizing other background features, you can do some essential things using the .htaccess file. However, if you have included some redirects and started getting this error message post saving, it is better to revert all changes.
The default WordPress .htaccess file looks like this-7] Check SSL installation
This automatic redirects error is one of the common SSL connection problems users often face. As you are getting a similar message, it is recommended to check the SSL installation. Whether you are using Let’s Encrypt or any other third-party SSL certificates, you must check this solution. In case you are unable to figure out the issue, ask for a professional to help.
That’s all! These are some common suggestions to fix this issue on the Firefox browser.
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