Cook did not provide any details on new products during his presentation to shareholders, but said the company’s existing $99 AppleTV set-top box – long referred to as a “hobby” by Apple executives – had racked up $1 billion in sales in the past year.
“It’s a little more difficult to call it a hobby these days,” Cook said. In response to a shareholder question about innovation, Cook said that Apple preferred not to tip its hand about new products under development so as not to tip off the competition. “You can see we’re getting ripped off left, right and sideways,” he said.
Since that article was posted it’s since been revealed that the $1 billion includes hardware and content, an impressive number for most companies to be sure, but still a drop (albeit a big one) in the $170.9 billion sales bucket Apple hoisted from the well in fiscal 2013.