Tim Cook wants to introduce ‘one more major new product category’ before stepping down as Apple CEO

Believe it or not, it’s been (now more than) 10 years since Tim Cook took charge of Apple as CEO. Cook has previously said that he “probably” won’t be at Apple in 10 years’ time. But, according to a new report, Tim Cook wants to introduce a new product category before he steps down from his position as Apple’s CEO.

In the latest edition of Bloomberg’s Power On newsletter, Mark Gurman speculates that Cook wants to stick around “for one more major new product category.” Gurman says that the product category won’t be the ambitious Apple Car project the company has been working on, but rather something in AR/VR.

But there are signs that’s not likely. The belief inside Apple is that Cook just wants to stick around for one more major new product category, which is likely to be augmented reality glasses rather than a car — something that’s even further out. He also understands that running a Silicon Valley company is typically a young person’s game, and he’s not going to stay far beyond his prime.

Apple is said to be introducing a new AR/VR headset sometime next year. This might be the “new product category” Tim Cook wants to launch before he steps down as Apple’s CEO. Gurman speculates that Cook will likely retire sometime between 2025 and 2028, as he also has a pay deal that runs out in 2025.

Under Tim Cook, Apple has flourished. Since his takeover, the company has more than doubled its revenue from $108 billion to $274.3 billion in 2020. The company also became the first-ever tech giant to hit a $2 trillion valuation. Read more about Tim Cook’s legacy at Apple, from iPhone 4s to iPhone 13, here.

Which product category do you think Tim Cook will launch before retiring? Let us know your thoughts in the comments section below!

Via: Power On

An engineer by degree, news reporter by profession, and an avid sports lover. You’ll find me scrolling Football Twitter when I’m not writing about cutting-edge technology. Have a tip? Noted a mistake? You can reach out using the email given below.

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