While Apple has primarily been successful in selling to individual consumers, the tech giant is doubling down on its enterprise business, especially when it comes to new mixed reality headsets, CEO Tim said. Cook made the remarks during an earnings call with investors and analysts on Thursday.
“We came to the conclusion that we could do both,” Cook said.
That's because changing workplace habits have given employees more say in the devices they use at work. “What's happened over the last few years is that in many companies, employees are now in a position to choose the technology that's best for them,” Cook said. “This is a huge advantage for Apple.”
Macs and iPads have long benefited from this change, but a bright new opportunity lies with the Vision Pro, which hits stores Friday for $3,500 each, he said. The headset provides access to over 1 million apps, 600 of which were created specifically for this device. During the conference call, Cook cited Walmart's “really cool merchandising app” and an app that employees at an unknown company can use to work in the field and control equipment. Nike, Vanguard, SAP, and Bloomberg were also named during the call and said they are working to bring Vision Pro to their customers and employees.
“This is some of the most innovative stuff I've seen come out of enterprise in a long time,” Cook said. “I think there's a huge opportunity in the enterprise industry.” he added.
However, he declined to make specific predictions about Vision Pro's sales to businesses and other customers.
Until now, companies selling smart wearable technology have often shifted their focus to corporate sales after consumer adoption has been slow. For example, Meta tried to convince businesses to adopt its virtual reality headset Meta Quest Pro in 2022 with a number of enterprise services, including integration with Microsoft Teams and Windows 365. However, this move does not seem to be having any effect. Meta's Reality Labs division, which includes revenue from Quest Pro, posted its largest quarterly operating loss on Thursday. Meanwhile, Alphabet Inc.'s Google Glass smart glasses and Magic Leap, an augmented reality startup that once attracted attention, have shifted their focus to corporate sales in recent years after consumer sales stagnated. did.
In its fiscal first-quarter results released Thursday, Apple slightly beat Wall Street's expectations for revenue and profit, posting revenue of $120 billion, up 2% from a year earlier, marking the fourth consecutive quarter of decline. It was reversed from. Net income was $33.9 billion, an increase of 13% from the same period last year. But the Greater China market remains challenged, suffering from economic turmoil and a shift to cheaper Chinese-made phones, with sales in the region down 13% from a year ago.
Apple shares fell 3% in after-hours trading to $180.89 per share.
