The passing of Steve Jobs last year sent ripples across the world and there were genuine concerns regarding Apple's future. After Tim Cook took over as the next CEO of Apple, not much has been heard from him. The Goldman Sachs Technology and Internet Conference for the first time saw Tim Cook being candid in a Q&A session involving the current situation of the company and what's in store for Apple in the future as well.
The major part of the discussion involved Apple's working conditions overseas after it was brought to notice by recent media reports. Cook was very clear in expressing that the company is working really hard in addressing these issues as top priority. In fact, he also revealed that the company will publish an annual report on their website giving details about the percentage of its suppliers complying with Apple's workweek standards (currently at 84%).
Further, he went on to discuss the company's future plans of taking the Apple products to the next level. He stated that the smartphone market is projected to be 1 billion units in 2015 with Brazil and China together contributing 25% of that. He expressed excitement over iPhone sales last year which stood at 37 million units and the iPad which sold 55 million units since its launch. He mentioned how iCloud now has over 100 million users and that it has revolutionized data sharing and storage. He called it "a strategy for the next decade".
Cook also reinstated the prediction of iPad taking over the PC market, with a quick reassurance of not eliminating it completely. His view was that as long as the customer was an Apple loyalist, it didn't really matter if they opted for a Mac or the iPad. He vouched for the latter in terms of number of units sold. Another product that he feels can do well if taken in the right direction is Apple TV. The conference witnessed his salesman spirits when he pursued the listeners to go buy the product.
Cook also expressed his views on the company's cash flow, saying that they are judicious and deliberate when it comes to spending their money. Unlike Steve Jobs who was adamant on share buybacks and no dividends, Cook hinted at possibilities of being flexible with the investors.