Cook: Stay Tuned, New ‘iWeapons’ to Launch
At today’s investor call, Apple said it was “on track to have a busy fall” referring to the release of new products Cupertino are expected to launch, believed to include iWatch, a new TV product and possible a new iPhone.
“We are working on stuff were really proud of” said Apple CEO, Tim Cook. All will be revealed in October and early 2014.
Read: iPhone Slump, Apple Profits -$1.9Bn
There is “lots of growth opportunity” he added, dismissing one analyst comment that the high-end phone market had peaked. “I don’t believe that” he said.
“There’s always more weapons… there is more than one tool in the toolbox” said Cook, referring to Apple’s iOS ecosystem and ability to retain users.
Apple CFO, Peter Oppenheimer was quick to point to the positives of its smartphone sales in the third fiscal quarter to June 29, which rose over 6m compared to same quarter a year ago, although demand fell 6 million units compared to Q2, 2013.
Apple enjoyed very strong sales in emerging prepaid markets in particular – India sales were up 400%, while Turkey, Poland also rose.
Sales of older iPhone 4/4S models rose due to more affordable pricing, he said. iPhone asp’s fell $27.
iPhone enjoyed massive year on year growth in US, UK, Japan, Russia and India, Oppenheimer confirmed in Apple investor call earlier today. iPhone unit sales rose 51% in the US – the only region where overall company revenues actually grew quarter on quarter.
“iPhone 5 is by far the most popular iPhone” but added he was “happy” with iPhone 4 and 4S sales.
He also referred to Australia among other markets, where he said iPhone is No. 1 or no. 2 smartphone among consumers, according to analysts.
iPhone demand in Japan and the UK also rose 50% and 60% respectively but China was “weaker” Cook admitted, blaming lower growth rate on factors including the slowing economy.
Demand in the shopping mecca that is Hong Kong also slowed China demand, he noted.
Cook also said he was “not opposed” to a trade in program for iPhone that the company is tipped to launch when quizzed by one analyst, but declined to specify further.
Apple CEO said the pause in iPad sales was anticipated at HQ and was “not a surprise”, adding iPad accounts for 84% of web traffic on tablets.
In a thinly veiled slight to competitors he said:
“If there is other tablets selling, I don’t know what they are used for.”
Customers continue to love iPad, he insisted.
In relation to iTunes and software services, Apple CFO said he was “very pleased” with growing revenues, which were one of its strongest quarter’s ever.
“We are continuing to invest in software and services to make the ecosystem even richer” he said, referred to launch of iNote for iCloud
|Apple opened 6 new stores in the quarter it now has 408 stores worldwide – including 156 outside the US.
It plans 9 new store opening in the September quarter and 23 store relocations in fiscal 2013, due to initial stores requiring more floor space.
Cook also said Apple plans to double the number of store in China over the coming years.
“China is a huge opportunity for Apple” and said, adding he was not discouraged with the downturn during the 90 day period.
Average store revenues were $10.1 million a fall of $1m compared to a year ago.