toggle

AAPL Stock: 112.01 ( -0.53 )

Printed from http://www.macnn.com

Cook talks Greenlight, cheap iPhone, more at Goldman Sachs

updated 11:32 am EST, Tue February 12, 2013

Calls Greenlight lawsuit 'silly sideshow'

Apple CEO Tim Cook addressed a number of topics at today's Goldman Sachs Technology and Internet Conference, including the lawsuit brought against it by Greenlight Capital. Cook called the matter a "silly sideshow," and insisted that the proxy proposal is about "corporate governance," not whether or not Apple should funnel more money to shareholders. He suggested, in fact, that the proposal is better for shareholders, since it means they get a say on preferred stock issuances.

Talking about acquisitions, Cook said that Apple is averaging "one every other month," and that most of them involve companies working on small projects that Apple absorbs into its own. He gave the example of PA Semi, a chip design firm Apple bought to help produce its A-series chips. "We'll do more deals like this," he commented. In terms of larger businesses, though, Cook said that Apple has and "will continue" to consider buyouts, but that they haven't passed Apple's tests so far. "We could do it, but we're disciplined. Not interested in just growing revenue, but if there was a large acquisition that fit our needs, we would do it."

Another question that arose was the prospect of a cheaper iPhone. "We wouldn't do anything we don't consider to be a great product," the CEO remarked. "That's just not who we are. That said, if you look at what we've done for people who are price sensitive, we've lowered the price of the iPhone 4 and 4S as of last September, and last quarter we didn't have enough supply of the iPhone 4. It surprised us.

"Also take a look at the history of iPod. When we started, it was $399. Now you can get an iPod shuffle for $49. Rather than cheapening, we build new products with a separate experience. For years, people said 'Why don't you have a Mac under $500 or $1,000 or whatever?' We worked on that for a long time and came up with the iPad. So we're always trying to reinvent with great new products."




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. blahblahbber

    Banned

    Joined: 02-01-05

    yeah yeah....

    What really Tiny Tim is saying is is that they are much like a printer business; we will have lower costs upfront for device we want more control, so we can milk our customers in a more transparent way. AWESOME!
    Cook, why don't you and your Goldman Sachs of Balls friends you got go to the corner for punishment. Who believes this stuff, really??

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lackin ...

toggle

Most Commented