Tim Cook On 37 Million iPhones: “It Was A Decent Quarter”



Cook sarcastically called Apple’s 37 million iPhone sales last quarter a “decent” number to a room full of laughs at the Goldman Sachs Conference this afternoon. In Cook’s eyes, that number represented only 9% of the handset market, and Apple sees incredible opportunity to take the entire global handset market by storm. Cook said that Apple’s mission is to “make the world’s best product.”

Last year, Apple received $13 billion in revenue from China. 25% of the global smartphone market is expected to come from China and Brazil in the next 3 years, and Apple is increasing its focus on those two markets. Cook’s remarks about iPhone growth at Goldman Sachs were overall very optimistic. Apple isn’t only looking at Samsung or Google as market share competitors, but the entire mobile phone industry.

Cook noted Apple’s involvement with Chinese carriers to introduce a new way of selling the iPhone (post-pay) so that potential customers can afford the product.

“Everyone in every country wants the best product,” Cook said. To Apple, the product is the “paramount thing.” Cook said that “the iPhone introduced people to a brand they had never heard of before.” He said that the iPhone has created a marketing “halo” for the Mac and iPad. Like the original iPod, the iPhone is fueling a synergistic effect for Apple’s brand.