During Apple's live financial conference call this afternoon Apple's CEO Tim Cook stated that he wasn't concerned over iPhone subsidy cuts in China. While admitting there were some "pressures," he quickly noted that 80% of iPhones sold in China today aren't using subsidies. That was a surprising detail. I think it'll take another quarter before the full picture about subsidies is clear. But for now, Apple shows no concern over this issue in the least.
Apple just announced financial results for its fiscal 2014 third quarter ended September 27, 2014. The Company posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. These results compare to revenue of $37.5 billion and net profit of $7.5 billion, or $1.18 per diluted share, in the year-ago quarter. 'Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus," said Tim Cook, Apple's CEO.
Earlier today Dan Riccio, Apple's Senior VP of Hardware Engineering, introduced us to the new 27" iMac with a 5K Retina Display. A display that is absolutely stunning. It blows away any other all-in-one desktop on the market today. If you're in a profession that demands a high quality display be it for photography, film editing, graphic or fashion design, engineering, medical research and so forth, then the new iMac has no equal in its price range. It takes the desktop visual experience to a whole new level.Our report focuses in on Dan Riccio's presentation.
Since Apple's Special Event that launched the iPhone 6 and gave us a peek at the all-new Apple Watch, we've been rummaging through Apple's literature looking for possible patents that could have been fulfilled due to their new products. Of course with Apple's new mobile wallet service called "Apple Pay" rolling out – the Mother Lode was struck in terms of finding Intellectual Property being fulfilled and that which will be fulfilled in the months ahead the service expands. We covered that one segment of Apple's patents in a separate major report titled "Apple Pay: The Digital Wallet that will Rule the World." In today's report we point to a few other patents that have come to light, knowing that there could even be more as other products (old and new) roll out later this year.
On Sunday we posted a report titled "One More Thing: The Full Charlie Rose Interview with Tim Cook," that covered part one of a two part interview. The topics covered in part one were many, from their womb-to-tomb business model to their reasoning behind partnering with IBM. Tonight the Charlie Rose Show released a small 3 minute segment where Cook talked about Privacy and Apple Pay. It's a segment where Cook got really fired up.
If you ever really want to know more about Apple's CEO Tim Cook, then watching the Charlie Rose interview that originally aired last Friday is by far one of the best ways of doing that in one sitting. It's hard to believe that there's actually another concentrated hour of that interview to be aired on Monday. The first hour covered a lot of territory that we touch on in this report and on Monday, Charlie Rose will talk to Tim Cook about "What comes after the internet?" That question alone will have me tuning in.