Tim Cook has announced the success of Apple TV as 20 million units have been sold out, generating $1 billion of revenue.

Apple has reported an increase in quarterly profit for its fiscal 2014 second quarter ended on March 29, 2014. The Quarterly net profit has gone up to $10.2 billion for $45.6 billion quarterly revenue.

On this occasion, Apple CEO Tim Cook also announced that it has sold over 20 million Apple TV till date. The set-top has become an important part of the Apple’s product lineup and thus, Cook has reiterated that it is no longer a hobby, but something that can generate good profits.

The product came into existence in September 2006 and shipping started from March 2007. Since then, it has not only touched 20 million mark but has generated revenue of over $1 billion from content selling in 2013.

Tim Cook said, “Reason that I stripped off hobby label, when you look at sales of the Apple TV box itself, and the content that was bought directly off Apple TV, for 2013, that number was over $1 billion. It didn’t feel right to me to refer to something that’s over $1 billion as a hobby. From an investment point of view, we continue to make the product better and better so it doesn’t feel right from that POV either.”

Growing competition

Experts are calling it the next big thing from Apple. However, despite the marketing efforts for this product, it has not been on a par with its fellow products like iPhone, iPod and iPad.

Its main competitors are WD TV, Roku, Google TV, Chromecast and recently launched Amazon Fire TV. However, Apple TV continues to gain appeal, month after month, even more than its rivals like Roku, who started in 2008 and have reached over 5 million.

Cook declined to comment on the agreement signed by Amazon and HBO to stream premium channel’s classic shows. He said, “We have HBO Go already on Apple TV, and you have to authenticate in order to use it, but you have to do that with Amazon’s service as well from my brief read of their announcement. From that, they got some older content from HBO to put on there, and I haven’t had a chance to evaluate exactly what it is and don’t have a personal POV of that. Look broadly, compares extremely favorable to the content that is on the Amazon box.”

Apple-TV-Interface

In the next iteration of Apple TV, we might see Siri voice assistant with it. A new code found within Apple’s software gave the reference of a version of Siri developed precisely for the Apple TV. It seems Apple is taking Amazon Fire TV seriously.

Apple TV might become next big thing after iPhone. “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

Green Apple

Meanwhile, on Earth Day, Tim Cook showcased his ambition of Green World. Now onwards, every Apple retail store would accept any of the company’s products for recycling, and you might get some credits for resalable one.

This year, apart from Apple TV’s next version, we might see a lower cost iMac, the iPad Air 2, a new iPad Mini, the long-rumored iWatch, the iPhone 6, and a new & smaller MacBook.

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