It may not be appropriate anymore for Apple Inc to describe its Apple TV unit as just a hobby. This is according to CEO Tim Cook during the annual meeting with the company’s shareholders before weekend. The most logical and obvious reason: the television venture generated over $1 billion in revenue in 2013.
However, it may be difficult for outsiders and analysts to determine just how many units of the set top box the technology firm sold last year. Each device costs $99. The total annual revenue figure included revenue from sold content through Apple TV like TV shows and movies.
But what is more important, as Mr. Cook indicated, is that more people have been more willing to spend for the set top box. He even acknowledged that those people did so even if the device has not been full-featured as the service many consumers expect it to be.
Next-gen Apple TV
But many observers think that Mr. Cook’s comments could be an indication that the company has more exciting plans in the future. There are speculations that Apple is refreshing Apple TV soon. Some sources even claim that Apple is already working to develop a better set top box that may replace the current platform.
It could be noted that the giant technology firm has penchant for improving and updating its products to cater to consumers’ wants and demands. For quite some time, Apple TV has not been significantly updated. That is why some observers think it could already be high time for an update of the device.
Beefing up content
It also seems that Apple is bent on beefing up not just the set top box but also the content of Apple TV. Earlier this month, some reports surfaced that the company has entered into discussions with media distribution entities including Time Warner Cable. If a deal is sealed, it would be the first ever agreement between Apple TV and a pay-TV content provider. According to sources, Apple is aiming to add a full portfolio of streaming content to a new version of its Apple TV.
There have also been speculations that a new Apple TV system could be unveiled as early as April this year. If that pushes through, the company may reportedly release the next-generation set top box before the end of the year or in time for the Christmas holiday shopping season.