(CUPERTINO, Calif.) — On the heels of announcing its second-quarter earnings, Apple CEO Tim Cook admitted Tuesday afternoon that Apple’s market “growth rate has slowed,” but stressed that he and the company are excited about what lies ahead.
“Our teams are hard at work on some amazing new hardware, software and services we can’t wait to introduce this fall and throughout 2014,” Cook said on the company’s earnings call. He also mentioned that the team was working on “exciting new product categories.”
When asked later in the call if other products would be released before the fall, Cook said, “I don’t want to be more specific, we have some really great stuff coming in the fall and across of 2014.” He added later that he was confident in the roadmap in terms of products, software and services.
While he didn’t detail what those “new product categories” would be specifically, Apple has been rumored to be working on two new types of products: a smartwatch that works with the iPhone and a television-type device. Cook said at the end of last year that the TV category was an area of “intense interest” for the company.
The company’s earnings release after the financial markets closed on Tuesday announced an increase in a stock buyback program to $60 billion from $10 billion. Apple increased its dividend by 15 percent to $3.05 a share. It also announced revenue of $43.6 billion in the second quarter, higher than the $42 billion expected on sales of 37.4 million iPhones and 19.5 million iPads.
Apple has been rumored to be releasing the next version of the iPhone and iPad sometime this summer or early fall. The company is expected to hold its Worldwide Developers Conference in June.
Copyright 2013 ABC News Radio
Millie Behra, FamilyShare
Tana Bolinger, FamilyShare