This is Tim: Cook on Apple's fourth-quarter earnings, the iPad mini, and more

26.10.2012

We don't really have an old product, we have only new products. You know, we just announced the fourth-generation iPad as well, and so the way that we look at this is that we provide a fantastic iPod touch, we provide an incredible fourth-generation iPad and an iPad mini and an iPad 2. Customers will decide which one or two or three or all four that they would like and will buy those. And so we've learned over the years not to worry about cannibalization of our own products; it's much better for us to do that than somebody else to do it. And the far, far bigger opportunity here are the 80 to 90 million PCs that are being sold per quarter. There's still over 300 million PCs being bought per year, and I think a great number of those people would be much better off buying an iPad or a Mac. And so, that's been a much bigger opportunity for Apple. Instead of being focused on cannibalizing ourselves, I look at it much more that it's an enormous incremental opportunity us.

For Q4, we sold 1.3 million, that's up over 100 percent year on year. That means that we sold more than 5 million Apple TVs during the fiscal year, which is almost double the previous year; we sold 2.8 the previous year. The business continues to do very well, but if you look at the revenue of this business versus our other businesses, it's quite small. And so, it still has the "hobby" label, however, it's a beloved hobby. We continue to focus on it and continue to believe there's something more there and continue to pull the string to see where it takes us.