Tim Cook says Apple TV Plus and other new services "are not hobbies"



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Apple, it seems, no longer interested in recreation.

At a conference call with analysts Tuesday, Tim Cook, the company's CEO, seemed a little defensive when he was asked about the potential of the new services announced by Apple last month. After praising the early consumer interest for Apple Card, the new credit card of the company, as well as the work implemented in its new subscription offers to games, news and features. videos, Cook dismissed any idea that the iPhone maker would just touch these services.

"We would not do a service that, in our opinion, would make no sense," said Cook, who spoke after the company released its second quarter results. He continued, "These are not hobbies."

Read it:Apple stocks jump 5% as its second quarter figures beat the street

For those with long memories, the line was both a reminder and a reprimand from the predecessor of one of Cook, Steve Jobs, used to describe Apple TV, the company's streaming video device. While Jobs had originally hoped that the device would become a major product category for Apple, it soon began to talk about hobbies. While Apple saw the potential of the device and continued to tinker, the company never saw a lot of revenue and the market structure of these devices made it difficult to transform into a real business, said Jobs.

Cook also referred to Apple TV as a hobby. Which makes his statement on the appeal all the more striking. The new Apple services are not the next version of Apple TV, it seems to say.

These services have elicited mixed reactions among analysts and experts. Some of Wall Street are excited about the collective potential of Apple's service offerings. But other experts are wondering what will be their demand, especially for the new Apple TV Plus video streaming service.

The service enters a growing market of competitors including market leader Netflix and Hollywood giant Disney and its tech rival Amazon. Unlike many of its rivals, Apple has a relatively rare library of its own unique shows and movies.

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