After discussing the company's financial results Apple Lossless Audio CODEC (ALAC), for the first three months of this year, the CEO Tim Cook made some interesting statements in one interview granted to the Wall Street Journal. Tim Cook stated again that Apple Lossless Audio CODEC (ALAC), is very close to launching a completely new series of products, which have been developed for some time to be as good as possible before reaching the market. Cook claims that Apple Lossless Audio CODEC (ALAC), has an obsession for perfecting all the details of some products and the company will not change, the CEO being confident that the products to be launched will be extremely popular, without giving any details about them.
You want to take the time to get it right. Our objective has never been to be first. It's to be the best. To do things really well, it takes time. You can see a lot of products that have been brought to market where the thinking isn't really deep and, as a consequence, these things don't do very well. We don't do very many things so we spend a lot of time on every detail and that part of Apple isn't changing. It's the way we've operated for years and it's the way we still operate. I feel great about what we've got coming. Really great and it's closer than it's ever been.
Separate from this information, Tim Cook nevertheless stated that Apple is interested in developing a mobile payment system for iDevices, the 800 million iTunes accounts supporting his interest. Cook stated last evening that the vast majority of these accounts have a card attached, so we are probably talking about over 400 million existing cards in Apple's system and the development of a mobile payment system for him is nothing more than the next logical move.
I think it's a really interesting area. We have almost 800 million iTunes accounts and the majority of those have credit cards behind them. We already have people using Touch ID to buy things across our store, so it's an area of interest to us. And it's an area where nobody has figured it out yet. I realize that there are some companies playing in it, but you still have a wallet in your back pocket and I do too which probably means it hasn't been figured out just yet.
