Tim Cook responds to question about competition from Samsung, Android at D11 Conference

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Walt Mossberg and Kara Swisher are currently interviewing Apple’s CEO Tim Cook at the AllThingsD’s D11 Conference.

Walt Mossberg asked Tim Cook whether Apple’s lost its cool factor, if it’s in trouble based on the stock price, which is down significantly and competition from companies like Samsung, which has grown stronger. He also pointed out that Android has a larger marketshare in the smartphone market compared to the iPhone.

Tim Cook had this to say:

Absolutely not. Let’s zoom out and get perspective. We’re a product company and we think about products. We’ve sold 85 million iPhones. 42 million iPads.

More importantly than the numbers, customers love them. Satisfaction ratings are off the charts — unprecedented. Usage is off the charts. Our share of web usage is 59 percent.

I look at that and say, I feel pretty good about that. I feel pretty good. We came out of December of last year with an unprecedented number of new products.

We’ve always had competent rivals. We fought against Microsoft, still fight against Microsoft in the PC space. We fought against hardware companies that were viewed to be incredible hardware companies, like Dell. But we’ve always suited up and fought. I don’t see that different today.

Maybe 15 years ago we were in a different place because we were worried about going out of business.

Our north star is always on making the best products. The best phone, the best tablet, the best PC, the best MP3 player.

If you look at the stock, it’s been frustrating. Frustrating for investors and all of us. This too is not unprecedented. The beauty of being around for a while is you see many cycles. You guys have seen many cycles — you’ve been around as long as I have.

I think what we have to do is focus on products.

While it is highly unlikely that Tim Cook will reveal any details about upcoming products, last year Tim Cook gave us hint at the possibility of Facebook Integration coming to iOS and improvements to Siri during his interview. It will be interesting to see if he gives any such hints this year.

Excerpts of the interview courtesy of The Verge who are live blogging the event.