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Apple CEO Tim Cook is currently answering questions from the press following the company’s live Q2 2013 earnings call. Here are some of the highlights:
Cook on growth in China:
We had our best quarter ever in greater China. Revenue came in at 8.8B. That’s up 11 percent y-o-y. It’s the same as Apple’s growing… iPads grew 138{813a954d5e225a1509f22204ece89c855080ce25555f20805f61bed63cbfde3b} y-o-y… set new records for sell through for iPhone…
Added about 8000 iPhone point of sales, plan to add more and further grow our distribution. Innovating with our online store there and adding different functionality to the store. China has an usually large number of potential first time smartphone buyers… We’ve seen a significant interest in iPhone 4 there and recently made it even more affordable to make it even more attractive to first time buyers.
Cook on competition:
“In the beginning RIM was the strongest player. Of course today our top competitor form a hardware point of view would be Samsung, and married to Google on the software side. They’re obviously tough competitors but we feel we have the best products by far… continue to feel very confident about our product pipeline. We have the best ecosystem by far. We’re going to keep augmenting it and making it better and better. I feel very good about our competitive position.”
On new product pipeline:
“I’m just saying we’ve got really great stuff coming in the fall, and across all of 2014.”
Cook on confidence level in supply chain and moving to new vendors:
“I have incredible confidence. We exited the March quarter with no shortages. The December quarter you’re referring to is the largest for Apple.. The reality is the work we do to create truly innovate products is hard… I would assure you we are working very closely with our manufacturing products for what we feel is a very exciting roadmap.”
On a larger screen iPhone:
My view continues to be that iPhone 5 has the absolute best display in the industry. We always strive to create the very best display for our customers. Some customers value large screen sizes. Others value other factors such as resolution, white balance, color, portability, clarity, compatibility with apps… Our competitors have made some significant trade offs in many areas in order to ship a larger display. We will not ship a larger display iPhone while these trade offs exist.
On Mac market:
The reason we were down last quarter, we were down 2{813a954d5e225a1509f22204ece89c855080ce25555f20805f61bed63cbfde3b}, is because the market is incredibly weak. It’s the largest decline I remember from being in this industry for a long time. It’s certainly true that some iPads cannabalized some Macs. I don’t think it was a huge number but i do think it was some… That said, i don’t think this market is a dead market or a bad market by any means… We’re going to continue to innovate in it… if anything the huge growth in tablets might end up benefiting the Mac… People may be more willing to buy a Mac… We’re going to continue making the best personal computers. Our strategy is no changing. we delivered some incredible innovation last year with the Retina Display MacBook Pro.
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