Apple shareholders hear Tim Cook discuss the Apple Watch and Apple Pay

Apple shareholders hear Tim Cook discuss the Apple Watch and Apple Pay
Today, Apple investors from all around the world assembled in the Steve Jobs Theater in Cupertino for the annual stockholders meeting. What they heard was CEO Tim Cook bemoaning the fact that Apple Pay has not completely replaced cash as the method of payment for all sorts of transactions. The executive said that even though Apple Pay's usage hasn't lived up to  his expectations,  he hopes "to be alive to see the elimination of money." Cook did say that a large increase in Apple Watch sales could help generate more use of Apple Pay.

The Apple Watch has become the leading wearable device in the world and the 8 million units that were shipped from October through December was a record number of units shipped in a single quarter by any wearable manufacturer. Apple is now the largest watch manufacturer in the world. In three short years, Apple has surpassed watchmakers that have been in business for over 100 years.

Cook also, and quite surprisingly, revealed that Apple made 19 acquisitions last year. Traditionally, Apple has kept mum about companies it has purchased. The CEO did say that Apple is on the prowl for more.

source: SlashGear

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12 Comments

2. Soundjudgment

Posts: 370; Member since: Oct 10, 2016

Pure business ignorance is retarding the acceptance of Apple Pay. Pure and Simple: "Umm... sir.. you cannot use that watc------*" *** Tweeeep!*** "Oh..... ummm hmmmm.. I guess you can!"

13. ph00ny

Posts: 2069; Member since: May 26, 2011

That also applies to Samsung pay usage "Can I use my phone to pay?" "Sorry sir, we do not accept apple pay" Beep "What is that?" "It's samsung pay. It works on old magnetic terminals" Granted some machines are very picky and you have to find the right location but it works 98 times out of 100. Also some stores now know the difference between samsung pay and apple pay and just asks if i have a samsung

3. cheetah2k

Posts: 2300; Member since: Jan 16, 2011

"8 million units shipped" does not equate to 8 million watches sold.. LOL... Apple always hyping up their ant hill.. There's probably 6 million units still sitting in warehouses across the world waiting for unsuspecting isheep to buy them..

14. foreverNOOB

Posts: 181; Member since: Jul 07, 2017

LOL 555

4. antroid

Posts: 396; Member since: Jan 24, 2018

if they strongly believe in eliminating money all together and every one (or most of the people) will use Apple Pay they should definitely think about the average consumer, a consumer that don't have 1K to pay for an iPhone or Apple watch around 329-399$ they should invest more in mid rangers as well.

5. apple-rulz

Posts: 2198; Member since: Dec 27, 2016

The Apple Watch is fantastic, the addition of Apple Music was a brilliant move. Now Apple needs to steal a page from the Gear and have an always on display option.

6. darkkjedii

Posts: 31629; Member since: Feb 05, 2011

Cash is king, ApplePay is not gonna replace cash money. It doesn't work at nearly enough places. SamsungPay works at a trillion more places, and it'll never replace cash money either.

11. iushnt

Posts: 3157; Member since: Feb 06, 2013

Dark, do you use both Apple Pay and Samsung Pay? How often do you encounter issues while using them?

15. darkkjedii

Posts: 31629; Member since: Feb 05, 2011

Honestly, I don't have an iPhone at the moment, just an iPad Pro, so no ApplePay. Where it works, it was great though. Didn't have any issues with ApplePay at all.

9. ndcart

Posts: 17; Member since: Sep 11, 2015

I won't lie, Apple Pay on my watch is crazy convenient. In fact, I get frustrated when I'm checking out at a store and realize they don't accept Apple Pay. lol

* Some comments have been hidden, because they don't meet the discussions rules.

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