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.
A year ago I posted a report wondering why Apple missed the boat on the phablet trend. I followed up with a report in May of this year wondering why there was still no word about Apple entering this explosive market that had grown 369% in the first quarter of 2014. Yet during Apple's trial with Samsung an internal slide surfaced that confirmed that Apple knew that they had missed the phablet trend. Shortly thereafter the rumors began to surface that Apple was working on a 5.5 inch iPhone for later this year. Yesterday Apple introduced the iPhone 6-Plus to cheers around the world. Apple's VP of Hardware Engineering noted yesterday that "The way people experience their iPhone has always started with the display." The reason for not releasing an iPhone phablet earlier was that they didn't have the display just right. The end result was yesterday's introduction of the Retina HD Display. While there's a lot of information about the new iPhone available to Apple fans to drill into, Jony Ive, Dan Riccio and Greg Joswiak put their collective thoughts together and pointed out the features that they thought were the ones most fans would be interested in. Along with that came Jony Ive's typical philosophy about Apple's latest iPhone designs. Our report is distinctly broken down into three segments covering only what each of the executives wanted to express about the iPhone 6. For easy reference, our report will be archived under "Apple Events" so that you can reference it at any time in the future.
Apple's first electronic wallet patent application surfaced in May 2010. Our first report covering this important new development was titled "Transaction: Apple's e-Wallet App Finally Surfaces in a Patent." For Patently Apple fans, today was a very satisfying day as one of Apple's most important long-term projects finally come to life almost 4.5 years after it first came to light. It didn't come via rumors or from a self-created theories; it came from investigative work that we do week in and week out. And in the last 4.5 years we've covered every major Apple invention on this subject matter. In fact we're the only Apple site that created a special archive to cover this very important project. Today, Apple blew us away with their new digital wallet solution and service that they simply call Apple Pay.
While Apple's CEO Tim Cook fielded most of the analysts questions during their Q3 Financial Conference Call today on a wide variety of matters from the impact of iPhone trade-in programs through to Japan's new VAT (Value Added Taxes) that will play havoc on short-term iPhone sales (smartphone sales in general), it was the iPad that Cook wanted to spend more time on. Apple's iPad sales were incrementally down as noted in Apple's press release posted earlier today. Yet Cook was really pumped up about future iPad developments and so this report takes a look at a few of Cook's comments on this important market segment.