Apple Tim Cook: New Product Categories Still Coming in 2014

Apple Reports Q4 2013 Year-End Results: $7.5 Billion Profit on $37.5 Billion in Revenue

During today’s fourth quarter earnings call, Tim Cook confirmed that Apple still plans on introducing new product categories within 2014. According to Cook, Apple believes that it can use its skills building software, hardware, and services to create “great products” in categories that Apple does not participate in today.

“We’re pretty confident about that,” said Cook.

Apple has been rumored to be working on a number of innovative products, including a smart watch dubbed the iWatch, which will compete with offerings from several other companies like Nike, Jawbone, and Samsung, along with a potential Apple television set.

Apple’s iWatch has been rumored to be released in 2014, while a release date on a television set has been more nebulous. The company is also possibly working on other offerings within the television sector, including a potential set-top box that replaces traditional cable boxes.

Apple fourth-quarter earnings for the fiscal year ending September 30, 2013 have just been announced. Earnings per share are reported as $8.26, while the Street estimate was $7.92 per share. Other highlights:

  • iPad sales: 14.1 million
  • iPhone sales: 33.8 million
  • Mac sales: 4.6 million
  • iPod sales: 3.5 million
  • Sales: $37.5 billion
  • Net Income: $7.5 billion