Tim Cook Says ‘Great Innovation in the Pipeline’, Talks about Apple Watch, China, and More on CNBC’s Mad Money

Tim Cook on Mad Money

In an interview with CNBC’s Mad Money host Jim Cramer, Apple CEO talked about future innovations in the iPhone and Apple Watch, China, the Android-to-iPhone switching rate, and more.

Firstly, when questioned about the first ever dip in iPhone sales and the smartphone reaching its peak, Cook said he “couldn’t disagree more.” He said the dip in sale is due to a large number of people upgrading to the iPhone 6 in 2014. Perhaps more importantly, the CEO teased some “great innovation” that is in the pipeline. He said that the new iPhones “will incentivize you and other people that have iPhones today to upgrade to new iPhones.”

Cook then goes on to make a particularly bold statement:

We are going to give you things you can’t live without that you just don’t know you need today. That has always been the objective of Apple. To do things that really enrich people’s lives. That you look back on and you wonder how did I live without this.

Innovation in the smartphone market has slowed down over the last year or two. While this statement from Cook could have been believed a 2-3 years ago, they sound particularly bold to me in 2016. Nonetheless, if there is any company that can come up with some innovative new features that will urge consumers to upgrade to a new iPhone, it has to be Apple.

Talking about the Apple Watch, Cook said that the smart watch will keep “getting better and better” and the company still in learning mode about it. He then compared the success of the Apple Watch to that of the iPod, which was not deemed as a success initially, but is now viewed as an overnight success.

On China, Cook said he “could not be more optimistic” about the country. The CEO said that the Android-to-iPhone switching rate in China has been “huge” in the first half of 2016 compared to the same period in 2015. He also revealed that Apple is working closely with Chinese regulatory authorities to bring back the iTunes Movies and iBooks store back online in the country.

You can watch the full interview through the embedded videos above or by heading to the source link below

[Via CNBC]