Apple: New iPad Had 'Record Weekend'
Apple CEO Tim Cook said the new iPad enjoyed "a record weekend" following its launch last Friday.
Cook spoke briefly about the new iPad launch during a conference call Monday morning to announce Apple's dividend and stock repurchase program . "We had a record weekend, and we're thrilled with it," Cook said, but declined to give any specific sales numbers.
However, Cook did open the call with some eye-popping figures for Apple's products. For example, he said Apple sold 37 million iPhones in last quarter. "That's a very large number," Cook said, "but it represents less than 9 percent of handsets sold in the quarter.
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"The handset market is expected to grow dramatically in the years ahead from 1.6 billion [units] in 2011 to over 2 billion [units] in 2015," Cook added. "It is our belief that eventually all handsets will be smartphones, so the potential for iPhone is enormous."
And then there's the iPad. Cook said the tablet is off to "an amazing start," selling more than 55 million units since the product launched in the spring of 2010; in fact, Apple sold 15.43 million iPads in its fiscal 2012 first quarter alone. He added that Gartner research predicts the tablet market will reach 325 million units by 2013.
"We believe the tablet market will eventually surpass the PC market in size. It's just a question of when," Cook said.
Cook also briefly discussed Apple's expanding business operations, both in retail and in the channel. He said the company is expanding its distribution around the world and has opened 40 new retail stories in this quarter alone. "We're expanding our footprint with new carrier partners and other third-party resellers, and we are investing in our direct enterprise sales force," Cook said.
As for the dividend and stock repurchase program, Cook and Apple CFO Peter Oppenheimer said the moves will not hinder the company's financial flexibility or commitment to research and development.
"We are participating in some very large and growing markets, and we see significant opportunities ahead of us," Cook said. "Simply put, we don't see ceilings to our opportunities."