Apple Chief unveils company’s AI roadmap, as sales in China drop

Apple Chief Tim Cook assures investors about future developments in AI

Despite the dip in share prices after the sales growth report in the last quarter of the previous year, Apple Chief Tim Cook on Thursday assured investors of future AI developments during a recent earnings call.

Last year’s revenue from Apple increased slightly from the same quarter and reached a record high, thanks to services and digital content. Nevertheless, the question was raised about the fall of net sales in Greater China, including mainland China, Hong Kong, and Taiwan which declined to $20.8 billion during the latest quarter. Cook highlighted the popularity of iPhones in China even though the country has slowed down, and he believes the future of the Chinese market is bright.

Cook announced that the user base of Apple devices worldwide passed 2.2 billion, which also set a record in services and subscriptions. During the holiday season quarter, Apple sold $119.6 billion boosted by iPhone sales, a two percent increase from the same quarter last year.

While the numbers were positive, Apple shares declined more than 3 percent in after-hours trading, showing investors’ concerns about the Chinese market.

Cook announced the introduction of the Vision Pro mixed reality headset in the US and termed it a revolutionary device marking the beginning of spatial computing that will be available in other countries later this year. Cook promised investors that Apple would provide more details on its AI initiatives later in the year. The company is one of the competitors in the AI race like Google and Microsoft that already integrates AI into products like cameras and Siri digital assistant.

Source: AFP