7 important things Tim Cook just said about iPhone 7, Apple Watch 2 and more: India, China and acquisitions | TechRadar
5. India is the new China
Here's another reason Cook thinks Apple has room to grow: India hasn't reached peaked iPhone. In fact, it hasn't even been able to properly use it due to a lack of LTE coverage.
"India will be the most populous country in the world in 2022," said the facts-dropping Cook. "India today has about 50% of their population at 25 years of age or younger."
In this "very young country," Cook summed up the vibe: "People really want smartphones there. And this year, the first year, LTE begins to roll out."
Previously, without LTE, the Indian population hasn't been able to tap into iPhone's potential, or the potential of any high-end smartphones.
'India will be the most populous country in the world in 2022...People really want smartphones there.'
Cook put it into perspective for the Cramer and the Western world: "So many of your viewers here in the United States, they're used to using LTE and streaming video. And hopefully they're getting a good experience there. In India you can't do that long – there is no LTE. And so that's changing."
This echoes what Cook said during his latest quarterly earnings call. He referred to India as "where China was maybe seven to ten years ago."
He ended his India discussion during today's interview with three words: "Huge market potential."
Of course, what Cook didn't say is that companies like Samsung, Xiaomi and Motorola already have a brand presence there among lower-end devices. Motorola is even holding its next launch event for the budget-friendly Moto G4 in New Delhi.
6. Still growing in China, even if the market isn't
Everyone is hurting in China in wake of the its economic downturn, but Apple's revenues are larger than any other foreign company in the country, according to the Apple CEO.
This Chinese iPhone SE could still move the needle
"Economy, clearly not as strong as it was a year ago. Softening. Currency weakening," was the curt way Cook laid it out before putting on the best pair of rose (gold) colored glasses.
"However, here's the way I look at it. Two years ago we had enormous sales. And so last year and last year we did even better, 80% better. So we grew 80% over the previous year," he said.
'[Android] switcher rate in China is huge. 40% up over the first half of last year.'
"This year in constant currency in mainland China, we were down 7. So if you look at it on a two-year basis, Apple grew 70% in China. It's hard-pressed to say those aren't good results."
He conceded that, in general, China's smartphone industry isn't growing. How is Apple growing, then? "There's movement between different suppliers of smartphone," he explained.
"The great thing is, the [Android] switcher rate in China is huge. 40% up over the first half of last year, the first half of this year. This is huge. So these are people switching from Android smartphones to iPhone in China."
7. Apple buys a company every 3 to 4 weeks
Another way that Apple can excite us with the iPhone 7 is by buying emerging companies. To be clear, it's never been in Apple's DNA to scoop up large, established companies.
I wonder if they use Apple Pay when buying companies?
"We've bought some companies to help us in services," admitted Cook. "We generally acquire a company every three to four weeks on average."
"It's a rare month that there's not a company being bought," he said to the surprise of a lot of viewers, I'm sure.
None are household names, but Apple did buy Siri in 2010, and now that's a cornerstone.
They're usually companies you've never heard of: Motion capture studio Faceshift, Machine learning firm Perceptio and augmented reality startup Flyby Media. All joined Apple within the last eight months.
None are household names and may not sound very exciting today. But Apple did buy Siri in 2010, and now that's a cornerstone of its iPhone and iPad operating system.
"We typically buy for technology and really great people. But you know, we'll see. We're always looking," said Cook.
Clearly, the Apple CEO remains bullish about the company's worldwide goals and its upcoming products, even Wall Street and some investors think otherwise.
It wasn't named, but it was definitely talked about
It comes to down two reasons: the new iPhone and Apple Watch 2. He side-stepped naming the iPhone 7 when Cramer brought up the phone, but he did say it'll be worth the upgrade.
That's good news for Apple faithful, because the Samsung Galaxy S7, Galaxy S7 Edge and LG G5 have come up with nifty tricks and better cameras.
The head of Apple has the positive thinking to make 2016 sound exciting. Now they just need to back it up.
Here's what to expect from iOS 10
Current page: India, China and acquisitions
Prev Page iPhone 7, Apple Watch 2, services and stock
7 important things Tim Cook just said about iPhone 7, Apple Watch 2 and more: India, China and acquisitions | TechRadar
5. India is the new China
Here's another reason Cook thinks Apple has room to grow: India hasn't reached peaked iPhone. In fact, it hasn't even been able to properly use it due to a lack of LTE coverage.
"India will be the most populous country in the world in 2022," said the facts-dropping Cook. "India today has about 50% of their population at 25 years of age or younger."
In this "very young country," Cook summed up the vibe: "People really want smartphones there. And this year, the first year, LTE begins to roll out."
Previously, without LTE, the Indian population hasn't been able to tap into iPhone's potential, or the potential of any high-end smartphones.
'India will be the most populous country in the world in 2022...People really want smartphones there.'
Cook put it into perspective for the Cramer and the Western world: "So many of your viewers here in the United States, they're used to using LTE and streaming video. And hopefully they're getting a good experience there. In India you can't do that long – there is no LTE. And so that's changing."
This echoes what Cook said during his latest quarterly earnings call. He referred to India as "where China was maybe seven to ten years ago."
He ended his India discussion during today's interview with three words: "Huge market potential."
Of course, what Cook didn't say is that companies like Samsung, Xiaomi and Motorola already have a brand presence there among lower-end devices. Motorola is even holding its next launch event for the budget-friendly Moto G4 in New Delhi.
6. Still growing in China, even if the market isn't
Everyone is hurting in China in wake of the its economic downturn, but Apple's revenues are larger than any other foreign company in the country, according to the Apple CEO.
This Chinese iPhone SE could still move the needle
"Economy, clearly not as strong as it was a year ago. Softening. Currency weakening," was the curt way Cook laid it out before putting on the best pair of rose (gold) colored glasses.
"However, here's the way I look at it. Two years ago we had enormous sales. And so last year and last year we did even better, 80% better. So we grew 80% over the previous year," he said.
'[Android] switcher rate in China is huge. 40% up over the first half of last year.'
"This year in constant curren
cy in mainland China, we were down 7. So if you look at it on a two-year basis, Apple grew 70% in China. It's hard-pressed to say those aren't good results."
He conceded that, in general, China's smartphone industry isn't growing. How is Apple growing, then? "There's movement between different suppliers of smartphone," he explained.
"The great thing is, the [Android] switcher rate in China is huge. 40% up over the first half of last year, the first half of this year. This is huge. So these are people switching from Android smartphones to iPhone in China."
7. Apple buys a company every 3 to 4 weeks
Another way that Apple can excite us with the iPhone 7 is by buying emerging companies. To be clear, it's never been in Apple's DNA to scoop up large, established companies.
I wonder if they use Apple Pay when buying companies?
"We've bought some companies to help us in services," admitted Cook. "We generally acquire a company every three to four weeks on average."
"It's a rare month that there's not a company being bought," he said to the surprise of a lot of viewers, I'm sure.
None are household names, but Apple did buy Siri in 2010, and now that's a cornerstone.
They're usually companies you've never heard of: Motion capture studio Faceshift, Machine learning firm Perceptio and augmented reality startup Flyby Media. All joined Apple within the last eight months.
None are household names and may not sound very exciting today. But Apple did buy Siri in 2010, and now that's a cornerstone of its iPhone and iPad operating system.
"We typically buy for technology and really great people. But you know, we'll see. We're always looking," said Cook.
Clearly, the Apple CEO remains bullish about the company's worldwide goals and its upcoming products, even Wall Street and some investors think otherwise.
It wasn't named, but it was definitely talked about
It comes to down two reasons: the new iPhone and Apple Watch 2. He side-stepped naming the iPhone 7 when Cramer brought up the phone, but he did say it'll be worth the upgrade.
That's good news for Apple faithful, because the Samsung Galaxy S7, Galaxy S7 Edge and LG G5 have come up with nifty tricks and better cameras.
The head of Apple has the positive thinking to make 2016 sound exciting. Now they just need to back it up.
Here's what to expect from iOS 10
Current page: India, China and acquisitions
Prev Page iPhone 7, Apple Watch 2, services and stock