Will Apple jump into the car business?
Without actually confirming the iPhone maker will do so, a top executive walked right up to the line at the Code Conference on Wednesday.
“The car is the ultimate mobile device,” Apple Senior VP Jeff Williams said in response to a question about what else the company will do with its huge cash hoard beyond share buybacks and dividends. “We’re exploring a lot of different markets.”
Williams said that the deciding factor in choosing new businesses is not the opportunity for revenue growth, but rather “which ones are ones [in which] we think we can make a huge amount of difference.”
Apple has been said to be hiring workers with automotive expertise, with the possibility of entering the car market around the end of the decade.
For now, Apple is working with existing automakers on CarPlay, which lets users bring their iPhone experience onto a car’s navigation system.
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/63709979/h06a0055.0.1508707322.0.jpg)
