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In his own words: Tim Cook on Apple earnings and more

Macworld Staff | Jan. 25, 2013
What Tim Cook said about Apple, the first quarter of 2013, the iPad, and more in the company's first quarter earnings call.

We saw exceptional growth in iPhones, into the triple digits. We shipped iPad very late in the quarter in December, and despite that, saw very nice growth. We are expanding in Apple retail there: In the year-ago quarter, we had six stores; we now we have 11. We obviously have many more to open there. In our premium resellers, we went over 400, up from a little over 200 in the previous year. And we increased iPhone point-of-sales from 7000 to over 17,000 there.

Now, this isn't nearly what we need, and it's not the final by any means, we're not even close to that, but I feel that we're making great progress. I was just over there recently and talking to a lot of different people, and I'm very happy with how things are going. It's clear that China is, it's already our second-largest region as you can see from the data that we've given you, and it's clear that there's a lot of potential there.

The Future of the Apple TV

You're asking me all the questions I won't answer, but let me see if I can find some comment to make that's productive. In terms of the product that we sell today, Apple TV, we sold more last quarter than we've ever sold before, eclipsing 2 million during the quarter. It was up almost 60 percent year-on-year, and so there's actually very good growth in that product. What was a small niche at one time of people that loved it is a much larger number that love it.

I have said in the past this is an area of intense interest for us, and it remains that. And I tend to believe that there's a lot we can contribute in this space, and so we continue to pull the string and see where it leads us. But I don't want to be more specific.

iPhone 5: New customers vs upgrades?

I don't have those specific numbers in front of me. But the iPhone 5 obviously with the numbers that we're selling, we're selling to a lot of new customers.

Future iPad supply and demand

iPad mini was very constrained. We ended underneath our target channel inventory range, which Peter had commented on earlier. We believe that we can achieve supply/demand balance on iPad mini later this quarter. That would likely mean that we'd need more units in the channel than we have today. I think that would be a fair conclusion to draw. It's probably worth pointing out, just to be totally clear, for last quarter, we had strong sales of iPad and iPad mini.

Constraints, tablet/computer cannibalization


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