5/29/2013 10:30:28 AM
Apple 'still a gamechanger', says CEO
Apple has 'several more game-changers' in the pipeline, as its CEO defended the company against criticism that it had lost its innovative streak.
Tim Cook was interviewed as part of the AllThingsD executive conference in California last night. Since taking over from the late Steve Jobs, Cook has been criticised by itchy investors for not maximising Apple's strengths and the company has also been accused of resting on its laurels and not releasing a new innovative such as the iPhone or iPad. Cook said the company still has the same industry changing spirit of old. He said: 'We’re still the company that is going to do that. We have some incredible plans that we have been working on for a while. The culture is all still there, and many of the people are still there. We have several more game changers in us.'
However, he was characteristically coy on what these products would be. Investors have called for an entry level iPhone to drive volume sales and compete with more affordable Android devices. He gave hints that the rumoured iWatch could be a goer but said there were a lot of issues to solve before Apple could make it work. He said: 'The area is ripe for exploration, and it's ripe for us to get excited about. Lots of companies will be in this space.'
Cook also rejected criticism that it was sitting on its vast cash pile and not investing it. He said the company had already bought nine companies so far this year, up substantially on the six businesses it usually acquires every 12 months.
Author: Graeme Neill