A FOX report suggests that the Apple board of directors is concerned over the pace of innovation within the company.
Apparently FOX reporter Charlie Gasparino has been able to confirm this with unnamed sources from Apple, but he also said that Tim Cook’s job is secure, with the board still 100% behind the CEO.
The pressure on Cook is mounting to deliver new products, Gasparino says, at a time when Apple doesn’t really have anything new to offer to consumers.
The iPhone 5 was launched in fall 2012, followed by the fourth-gen iPad and first-gen iPad mini. While Apple has been selling an increased number of iPhones and iPads – with certain variations from quarter to quarter – the company has not announced any new products this year. Recent reports have shown that market share for iOS devices is dropping, at least in some regions of the world, with sales of Android smartphones and tablets increasing at a faster rate.
The FOX report can be taken with some caution though, as it’s probably safe to speculate that Apple’s board has significant knowledge of what’s coming from the company in the near future, especially considering its product cycles for flagship devices, including the iPhone and iPad.
Here’s the current composition of Apple’s board of directors:
- Arthur D. Levinson, Ph. D – Chairman of the Board, Apple; Chairman and former CEO, Genentech
- Bill Cambell – Chairman and former CEO, Intuit Corp.
- Tim Cook – CEO, Apple
- Millard Drexler – Chairman and CEO, J. Crew
- Albert Gore Jr. – Former Vice President of the United States
- Robert A. Iger – President and CEO, The Walt Disney Company
- Andrea Jung – Senior Advisor to the Board of Directors, Avon
- Ronald D. Sugar, Ph. D. – Former Chairman and CEO, Northrop Grumman
The MacBook Air (mid 2013) is the only new product launched so far this year, although the company has hinted more than once, especially via Cook himself, that more products are in the pipeline, and more products will be launched later this year.
However, the company has also introduced a bunch of new products, which will be released in the coming months, including the new iOS 7 and Mac OS X Mavericks operating systems, and the completely redesigned Mac Pro.
Additionally, the company is expected to launch a couple of new iPhones in the coming months – quite possibly this quarter – including a cheaper iPhone (known as iPhone 5C or iPhone M) and a flagship device (iPhone 5S).
Furthermore, new iPads are also expected, including a fifth-generation 9.7-inch iPad but also a second-generation iPad mini that may or may not feature a Retina display.
However, with such Apple rumors we won’t see any confirmations from the company, as each new product is surrounded by a high-level of secrecy.
The first new products that could hit stores seem to be the new iPhones, which are expected to be launched at some point in September, at which point the completely redesigned iOS 7 would also be released. Some analysts believe that only a new iPhone launch would help Apple reach its financial goals for the current quarter.
Apple stock is currently trading at around $460 per share, still way below the $700 mark it hit last September.