In a rare interview with Fortune s Adam Lashinsky, Apple CEO Tim Cook discussed on a wide range of topics right from company performance in terms of revenue, emerging markets such as India and the somewhat mythical Apple Car among others. He also touched down on topics such as Apple Music and Apple Pay services. Also Read - PUBG New State receives over 17 million pre-registrations as closed alpha testing endsAlso Read - iPhone selling in LG stores? Apple is apparently in talks for a new deal
Lashinsky asked about the much rumored Apple Car project, something that we ve been hearing for years now, but it s yet to see the light of the day. He also brought up the point where Apple recently started hiring people from the automobile industry. Also Read - Apple CEO Tim Cook claims iOS is more secure than Android
Putting the rumors to rest, Cook said Yeah, I m probably not going to do that. The great thing about being here is we re curious people. We explore technologies, and we explore products. And we re always thinking about ways that Apple can make great products that people love, that help them in some way. And we don t go into very many categories, as you know. We edit very much. We talk about a lot of things and do fewer. We debate many things and do a lot fewer.
Cook further said that hiring people from the automotive industry doesn t confirm that the company is working on Apple Car. However, it s a way to “explore things with teams of people.” To begin with, the idea first needs to get past the stage after which the company begins “spending large amounts of money.” And once the potential is seen in the project, the team starts working on it. While his reply doesn t directly confirms, it does hint that Apple may be exploring potential of building Apple branded smart car.
Despite selling 74 million iPhones and making profit of $18 billion, critics slammed Apple for slow iPhone sales in the last quarter. When asked for his reaction, Cook said, I m good at blocking out the noise. I come back to, Are we doing the right things? Are we remembering our North Star? Are we focused on making the best products that really help people enrich their lives in some way? And we re doing all those things. People really love our products. Customers are happy. And that s what drives us. Over time I m sure that everything else will catch up.
When asked whether Apple has been through such slow phase before, he said, it helps internally to remind people that Apple has been through cycles: This too shall pass. He further pointed out that some of our greatest innovations and products were born in a period of challenge. Also, assets get cheaper, so you can double down on innovation through the downturn.
In a recent town hall meeting for Apple employees, Cook discussed on various topics while also mentioning that India is an important growth area for Apple for the next decade. Talking about cheaper assets, Cook told Forbes about geographies that matter to the company.
Well, assets come in different forms. You can build more stores for the same amount of money. You can go into geographies like India in a big way and things are cheaper, Cook said.
He also briefly spoke about Apple s acquisition spree and why it is important. He said, we ve been acquiring companies every three to four weeks, on average, for a while. So yes, it s also true that companies get cheaper in both the private markets and the public markets. And your own stock gets cheaper too. So it s a glass half full for me, not empty.
Besides building products such as iPhones, iPads and Macs, Apple has also ventured into offering services such as Apple Pay for card less transactions and Apple Music to offer users with an option to stream their favorite music from anywhere and from any device.
When asked about these services Cook said, That was never the way we looked at it. The way we look at it goes back to the building of great products. And services we think of services as a product as well. And so whether it s offering Apple Pay or Apple Music or a huge number of apps in the App Store, these are all things that are driven by the installed base [of devices] itself. And so financially it provides a great potential opportunity.