Apple CEO Tim Cook said that the 4G roll-out in India is the fastest he has ever seen in the world and that it opens a great opportunity for Apple to grow in the country over the next few years. Cook also said Apple plans to fund programs that could include teaching people how to write computer code to create apps, and will release more details about the effort this summer. Cook also believes a company should give back and should have values because a company is a collection of people.
But many investors remain concerned that Apple has become too vulnerable to the ups and downs of the smartphone market, mostly because the company hasn’t been able to come up with another hit product since the 2011 death of its co-founder and CEO, Steve Jobs.
Cook pointed out Apple provides more than 100,000 jobs already in the United States and uses many American suppliers, including Corning, which makes the screens for iPhones and iPads.
“We are not satisfied with just two million”.
“You can see, we’re really looking at this thing deeply”. On the developer community, we’re asking ourselves: How can we empower the next generation of developers?
The tech giant has already been communicating with a company that they plan to invest with, and says they plan to announce who it is sometime in May. He did not identify the company, but said more about the fund will be announced later this month.
Apple hopes that its $1 billion investment will expedite job creation and growth.
“However, if you look at iPhone outside of greater China, iPhone units grew very nicely”, Cook said.
“Because if we can create many manufacturing jobs around, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them”, he said.
President Donald Trump promised that he would bring manufacturing jobs back into the United States.
He visited India past year and met prime minister Narendra Modi; Apple’s senior vice president of worldwide marketing, Phil Schiller, visited last quarter to inaugurate a developer centre. In the January-March quarter, Samsung replaced Apple as the top premium smartphone vendor with a 48% market-share, up from 31% in October-December, according to Counterpoint Technology Market Research. However, majority of its cash are kept outside the United States because of tax reasons. The iPhone maker now has a roughly $256 billion cash hoard.