Tim Cook: Apple Bringing Mobile Innovation to New Categories

Tim Cook Apple Brining Mobile Innovation to New CategoriesApple CEO Tim Cook has effectively cleared up any confusion with regard to Apple’s plans to enter new product categories.

Last night, Cook told The Wall Street Journal and other national media outlets that the company will, indeed, expand the scope of its products into new mobile territories.

“There will be new categories,” Cook reveals, being careful not to say too much. “We’re not ready to talk about it, but we’re working on some really great stuff.”

Apple is fighting the perception that its best days are behind it. Revenue growth has dropped to less than 10% in the last three quarters, while net income fell 11% in the past fiscal year—its first annual decline in more than a decade.

As MMW reported this morning, Apple just announced that it is repurchasing of $14 billion in shares of AAPL.

“It means that we are betting on Apple,” Cook explained. “It means that we are really confident on what we are doing and what we plan to do,” Cook says. “We’re not just saying that. We’re showing that with our actions.”