Now Playing: Is Amazon Prime Day’s first day a sign of things to come?
Now Playing “I think it’s a good time for us to be on the defensive, and I think that’s where we need to be,” Apple CEO Tim Cook told investors at the company’s annual meeting on Thursday.
Cook also said that he thinks there’s a “new frontier” in the cable industry that Apple is working to address.
He said Apple is “very comfortable with what we’re doing, and we’re not going to stop.”
He said he believes “the future of television” lies in content and services.
Cook said Apple has been working on “digital TV” for more than a decade, and it is working on an “app platform” for those products.
But he also said the company isn’t “going to stop” trying to get into the streaming video space.
“We are in a pretty weird place,” Cook said.
“And we are not going away.”
Apple has a very strong business in the streaming television space, but Cook said that the company has been focusing more on the digital service as a way to deliver new products.
Apple is also focusing more than ever on the iPhone and iPad, Cook said, and “they’re just getting better and better.”
Cook said it’s “tremendous” that Apple was able to sell more than 100 million iPhones last year, which is the most ever, and he noted that it’s only surpassed 100 million Macs.
Cook called the iPhone the “best mobile platform ever,” but said Apple’s software is “not perfect.”
He also said Apple will continue to invest in hardware and “not just software.”
He acknowledged that Apple’s mobile operating system has been criticized by some consumers.
“The iPhone is a great product,” Cook told analysts.
“But the problem is that we’re paying for it, and in the last five years, that has been very, very expensive.”
He pointed out that Apple lost $30 billion last year on mobile devices.