And the ‘Oscar’ of the fastest growing Apple’s product goes to… Apple TV! With sales soaring 80% in 2013 and total earnings topping $1 billion, Apple TV is without doubt, the rising star.
These new figures were disclosed by Tim Cook, Apple’s CEO, himself at the company’s annual shareholder meeting recently. Considering that revenues ramped up to $1 billion (hardware and content sales), growth has likely hiked 80% according to analyst Horace Dediu while number of units sold are estimated around 10 million! For a broader picture, the Cupertino-based company has shipped over 250 million devices powered by iOS during same year.
Apple TV has long been considered as a “hobby” by Job’s substitute since mass adoption is weak compared to Apple’s flagship smartphone, but Cook now acknowledged that “it’s a little more difficult to call it a hobby these days.”
Apple TV has joined the market in 2007 and according to Dediu, 28 million units have been sold since the launch date. To compare, Apple’s direct competitor Roku has traded only 8 million of similar devices since 2008.
It seems that these promising figures are bringing new ideas to life. Last month, Bloomberg reported that Apple will come up with a revised version of the Apple TV in April and that the company is in talks with cable giant Time Warner to expand video content.
“Didn’t say you would see them in 2013 and 2014, but you will see exciting new products from us in the fall and across 2014. I stand by that and you’ve seen a lot of things over the last couple of months,” Tim Cook alerted during Q4 conference.
So, you can expect new products and innovation from the iconic brand this year!
Source: Bloomberg, Quartz