/// I’m Apple TV! And Someday … I’m Gonna Be a Real Business!
Apple sold 1.3 million Apple TVs in its latest quarter. That’s double what it sold during the same period a year ago, and enough to bring the grand total for units sold this fiscal year to five million. But still the company insists on referring to it as the “hobby” that Apple co-founder Steve Jobs described it as at our D8 conference . “The [Apple TV] business continues to grow well,” Apple CEO Tim Cook said during Apple’s fourth-quarter earnings call . “But if you look at the revenue, it’s quite small. So it still has the hobby label. But it’s a beloved hobby, and we continue to focus on it; we believe there’s something there. So we’ll continue to pull the string and see where it takes us.” In other words, the reason Apple considers Apple TV a hobby is that the device simply doesn’t bring in enough money. Yet. That’s essentially a distillation of of the same rationale Cook described in greater detail at our D10 conference earlier this year. “We’re not a hobby kind of company, as you know,” he said during his onstage interview. “Our tendency is to do very few things — to put all of our wood behind a few arrows. And if something isn’t a big success, we get it out of the way and move on and put our energies into something else. But we’ve stuck with Apple TV.” “Now, it’s not a fifth leg of the stool,” Cook said, referring to Apple’s four-legged stool: iPhone, iPad, Mac and iPod. “It’s not of the same market size as our iPhone business or the Mac business or the music business or the tablet business. It’s not like that
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I’m Apple TV! And Someday … I’m Gonna Be a Real Business!