In the showcase hall inside Apple’s headquarters after unveiling the mixed-reality headset Vision Pro in June, CEO Tim Cook smiled for the cameras as he stood next to the company’s latest product, taking one of the biggest risks of 2023.
A Product Considered Apple’s Biggest Risk in Recent Years
The Vision Pro headset is considered a risky launch for Apple in recent years, which is why Tim Cook is one of the risk-takers of 2023 in CNN Business. Cook has long talked about the potential of augmented reality in helping people communicate and collaborate. Now he must prove that the device that blends virtual reality with augmented reality, a technology that overlays virtual images onto live video of the real world, is indeed the future of computing. And selling it won’t be easy: it’s a hefty computer priced at $3,499 that you wear on your face.
Risk is in Apple’s DNA
If Tim Cook were to retire today, he would be one of the most successful CEOs of the decade. Under his leadership, Apple’s market value has grown by 700%, the iPhone business remains strong, and he has built a robust services business in areas like music, television, and gaming to generate revenue independent of hardware sales. He also introduced the highly successful Apple Watch and AirPods.
Apple’s Special Touch
Though Cook has sing praises for the potential of virtual reality and augmented reality for years – “We are very optimistic about augmented reality in the long run,” he said during a 2016 earnings call – he has also been critical of its implementation. Cook has previously described virtual reality as “really cool” but said last year that it’s better for short durations and “is not a great communication tool.” Apple’s approach with Vision Pro is instead aimed at allowing users to communicate and be productive while experiencing immersive worlds.
Perfect Timing?
Some people believe that the timing for Apple’s headset might be late, as more people could have jumped at the chance to create these virtual experiences while working and communicating almost from home. Now, with more employees returning to the office and companies looking to cut costs amid broader economic uncertainty, the justifications for the pricey device seem less clear.
Source: https://www.aol.com/tim-cook-risks-legacy-pricey-110039421.html
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