Apple ‘absolutely’ plans to release new product types this year

Apple is pledging to enter new product categories this year, fuelling further speculation around Apple TV and wearable devices.

The Apple Store in London's Covent Garden
The Apple Store in London’s Covent Garden

Apple chief executive Tim Cook told analysts that the company was ‘absolutely’ planning to release new product types this year, according to the Financial Times.

At the end of last year Apple bought Israeli motion-sensor company PrimeSense, fuelling speculation that the company might enter the TV market, while its reported hiring of Nike product designer Ben Shaffer sparked rumours of wearable tech developments.

Cook’s announcement came as Apple released a mixed set of financial results, showing a year-on-year revenue growth of more than $3 billion (£1.8 billion), but a slight drop in margins.

The company is warning that revenues could be flat or even fall in the second quarter of 2014 – predicting $42 billion-$44 billion revenues (£25 billion-£26.5 billion) compared to $43.6 billion (£26 billion) second-quarter revenues in 2013.

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