Apple CEO Tim Cook presents keynote address for 2020 At the Apple Worldwide Developers Conference (WWDC) at the Steve Jobs Theater in Cupertino, California.
Brooks Kraft / Apple Inc. / Handout via Reuters
Apple buys much smaller companies and doesn’t talk about what they̵7;re going to do with them.
But on Thursday, Apple CEO Tim Cook shed some light on the company’s acquisition strategy in an interview with CNBC, while contrasting with other large technology companies that testified to House’s antitrust subcommittee on Wednesday.
“If you look at the subject matter of the study, it’s acquisitions, and if you notice, we didn’t get any questions about acquisitions because our approach to acquisitions was to buy companies where we face challenges and intellectual property rights, and then turn them into a phone feature.” Cook said in an interview.
Cook argues that Apple does not buy competitors – it buys companies that have products or other technologies that Apple can turn into features.
While Cook was quick to name his Big Tech rivals, the subcommittee released an email on Thursday. The letters show that Facebook executives have discussed the acquisition of Instagram internally to take out a competitor. El. The letters also showed that Amazon employees had forcibly reduced the price of Diapers.com in order to gain market share from it. Amazon 2010 Acquired its parent company Quidsi.
Cook emphasized his point: “An example of this was Touch ID. We bought a company that accelerated the point with Touch ID.”
There are other examples: Apple has purchased the automation app Workflow, which is now a built-in Shortcuts app for the iPhone. 2018 She bought the digital magazine subscription service Texture, which is now the backbone of Apple News +. Animoji avatar users can immerse themselves in the texts after the 2015 release. After purchasing FaceShift. Siri was the result of an acquisition. Apple’s mobile chips, which are popular in the industry, are live in 2008. The result of the acquisition of PA Semi.
Other offers were for companies that are closer to Apple’s competitors. 2017 Apple has acquired Beddit hardware sleep monitoring equipment from Finland. Apple is still selling Beddits and even upgrading the hardware, but in 2019. Many features have been removed for them, and Apple will be adding sleep monitoring as a feature to its latest Apple Watch software this fall.
Apple buys from much smaller companies and doesn’t always announce acquisitions. To date, in 2020, five Apple purchases have been made public, none of which have an official price associated with the deal. Many of Apple’s acquisitions are small enough that the company would not have to report them to the SEC
Cook said last year that Apple buys the company every few weeks. Apple’s biggest deal in 2014 There were Beats for $ 3 billion. Apple is still selling Beats headphones and has turned its streaming music service into Apple Music.