In a bullish appearance on CNBC’s Mad Money, Apple CEO Tim Cook was optimistic about the future of the company, outlining his thoughts on various Apple products, the nature of innovation and the company’s future in China.
This comes in the wake of Apple’s first year-on-year revenue drop for more than a decade causing its stock to drop more than ten points. Meanwhile billionaire Carl Icahn has sold his significant stake in Apple over concerns about the company’s uncertain future in China. Doom and gloom for Apple? Cook certainly doesn’t think so.
When asked about the recent dip in iPhone sales, Cook clocks it up to the staggering high upgrade rates in 2014 and 2015. He boasted that Apple have “great innovation” on the way to help incentivize customers to upgrade:
“We are going to give you things you can’t live without that you just don’t know you need today. That has always been the objective of Apple. To do things that really enrich people’s lives. That you look back on and you wonder ‘how did I live without this?'”
On China, Cook said he “could not be more optimistic,” citing an impressive rate of customers switching from Android to iPhone in the region. He says the company are working hard to reinstate the iTunes and iBooks stores which were forcibly taken down by the Chinese government.
Amongst other topics, Cook also talked about moving the iPhone into emerging markets, especially the potential for growth in India, a “very young country” where “people really want smartphones.” He says the Apple Watch is only going to get better – “we’re still in learning mode” – and notes that the iPod wasn’t an overnight success but grew to become a must-have product within a few years.
Finally, Cook admitted that Apple are pretty secretive when it comes to upcoming projects, such as the long-rumored Apple Car and a possible move into virtual reality. “We don’t talk about products that are in the roadmap. But I would tell you that we’re incredibly excited about things we’re working on.” C’mon Tim, drop us a hint!
You can watch the full video on the CNBC website.