Tim Cook says Apple buys innovation, not competitors
Publishing timestamp: 2020-07-31 16:51:47
Summary
Apple CEO Tim Cook discussed the company's acquisition strategy in an interview with CNBC, highlighting that Apple buys companies for their technology to turn into iPhone features. Cook emphasized that Apple doesn't buy competitors but rather companies with products or technology that can be integrated into Apple's products. Cook mentioned examples such as Touch ID, Workflow, Texture, Animoji, Siri, and Apple's mobile chips, all of which were products of acquisitions. Apple buys a lot of smaller companies and doesn't always announce acquisitions. In 2020, five of Apple's acquisitions have been publicly revealed, with no official prices attached. Cook also mentioned that Apple buys a company every few weeks, with the largest historical deal being for Beats in 2014 for $3 billion.
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Keywords: breaking news: technology, business news, mobile, tim cook, apple inc, technology, business,
Source: https://www.cnbc.com/2020/07/31/tim-cook-contrasts-apple-ma-with-other-big-tech.html