Apple CEO Tim Cook Eyes Partnership With Alibaba In China
David Curry | | Oct 28, 2014 10:00 AM EDT |
(Photo : Reuters) Apple's CEO Tim Cook spoke on the WSJ live conference about Apple Watch, Apple Pay, iPhone and Alibaba.
Apple's (AAPL) CEO Tim Cook sat down for a 30-minute talk at The Wall Street Journal Live technology conference and spoke about Apple Pay, iPhone, iPod and partnering with Chinese e-commerce provider Alibaba.
Like Us on Facebook
On the subject of Apple Pay, Cook said he understands why retailers are looking to cut the costs of credit and debit cards by establishing their own payment service. But he also said that he believes customers will only use these retailers if they offer the right payment options.
In the next five years, Apple looks to diversify its income streams. The iPhone currently accounts for approximately 50 percent of Apple's revenue, but Cook said its $18 billion services industry should be taken into account, alongside its other successful products.
Speaking about Apple Watch, Tim Cook said it was a profoundly different device from others in the industry, because at its core the smartwatch is more than a technology gadget - it is built for fitness, health and fashion.
One of the most interesting parts of the conference was Tim Cook's admiration for Alibaba founder Jack Ma, who was on the show before Cook. He claimed to be very interested in partnering up with Alibaba in China through its AliPay service.
Cook gave no hints as to what the service would be, whether Apple would just allow AliPay on its website or if it would be a deeper integration, with AliPay working as the solution for Apple Pay in China.
Either way, Apple's CEO has reiterated they are investing a lot in China - offering a payments service on top of AliPay could be a way to make even more money - especially if Alibaba is interested in the partnership as well.
TagsApple Watch, iPhone, Tim Cook
©2015 Chinatopix All rights reserved. Do not reproduce without permission
- CurrentC vs Apple Pay War Looms as Merchants Reject New Electronic Payment Service
- Apple Helps Schools by Giving $100 Million to Obama's ConnectED Program
- Apple, Android Fans To Boycott Retailers Blocking Apple Pay
- Apple's iPhone 6 Sales Outpace Samsung Galaxy Note 4 in South Korea
- Apple To Fold Beats Music Into iTunes
- Apple to Add 25 More Retail Stores in China
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?