Tim Cook teases that Apple has 'new services' coming in 2019
- Apple CEO Tim Cook teased 'new services' expected from the company in 2019 during an interview with Jim Cramer on CNBC's 'Mad Money.'
- Those "new services" could include Apple's already-rumored video-streaming platform and a monthly news subscription service.
- Cook gave the interview at a time when Apple is facing intense scrutiny following its recent warning that iPhone sales during the holiday quarter were lower than previously expected, the first time in nearly 17 years the company has made such an announcement.
During an interview with Jim Cramer on CNBC's "Mad Money" Tuesday evening, Tim Cook teased 'new services' from Apple were coming in 2019, less than a week after the company shocked global markets with a warning about lower-than-expected iPhone sales.
Cook, however, did not go into specifics. "On services, you will see us announce new services this year," he told Cramer. "There will more things coming. I don't wanna tell you about what they are."This ambiguous snippet could mean many things. First, he may be referring to Apple's new video streaming service, reported on last October, which Apple has already sunk $1 billion into as part of its larger move into producing original content. Apple is already creating or developing at least 17 original, scripted series, ranging from a biographical drama on NBA all-star Kevin Durant's life growing up, an animated show from the creator of "Bob's Burgers," and an untitled series from M. Night Shyamalan.
Cook could also be referencing Apple's rumored monthly news subscription service, which could look a lot like Apple's streaming-music service, Apple Music. Apple's acquisition of magazine subscription app Texture in March 2018 is reportedly related to those efforts.
Cook told Cramer that the new services are those that Apple has been "working on for multiple years."
Apple has been keen to stress its growing services revenue as it finds itself under intense scrutiny following its recent warning that revenue from iPhone sales during the holiday quarter would be down from previous expectations.
Apple executives have said in the past that the company's goal is to hit $50 billion in services revenue by 2021.