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This is Tim: Cook at the 2013 Goldman Sachs conference

Macworld staff | Feb. 13, 2013
On cash balances

On the future of the iPad

I think the tablet market will be huge. It is a huge opportunity for Apple. It's one of those areas that show what I mentioned earlier, of software, hardware, and services being integrated, and creating an experience that's jaw-dropping. I think it's huge.

To put the 23 million [iPads sold in the last quarter] in some context, HP, who is the world's largest PC seller, in that same quarter, sold 15 million PCs. So 50+ percent more iPads were sold in that quarter than PCs, and in fact if you look at the full year last year, there were more iPads sold than HP sold of their entire PC lineup. And so there has been a sea change here, but I think we're in the early innings of this game.

The tablet market last year, the projections that I've seen would indicate there was about 120 million tablets sold last year. The projection is that this is going to triple--triple!--in four years. And so when you think about that--I think the actual number's 375 [million]--that's more [than] PCs that are being sold today around the world. And the PC growth rate, as you know, is actually contracting, not growing.

The tablet is attracting people who've never owned a PC, and people who have owned them, but aren't greatly experienced. And Apple is at the forefront. The iPad is absolutely the poster child of the post-PC revolution. If you look at what we bring there, we've worked really hard on our ecosystem. There are over 300,000 apps that have been custom-made to take advantage of the big beautiful canvas that iPad has. The other guys have a few hundred. We have a significant lead in this area.

Also, I think the tablet, as I mentioned before, you can see the whole of Apple coming out here. If you look at--I have no idea what [our] market share is, because we're the only company that really reports how many units we sell--but if you look at usage, there are companies out there that have very, very good metrics in usage.

And so, if you look at IBM, as an example, [it] did a study on Black Friday. And this was shocking--it was shocking to even us. On Black Friday, the product that there was the most shopping done on, of any mobile device, was iPad. And I don't mean iPad as compared to a single brand somewhere, I mean iPad was twice as much as the total of every Android device. Every one of them! Every phone! Every tablet! Twice as much.

And so, why is this? It's because it's an incredible experience. By the way, iPhone in that same survey was almost twice as much as all Android devices. And so, we really sweat the details and so we have a greater customer experience, and the data is very clear that customers use them a lot more.


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