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Best Buy will accept Apple Pay despite allegiance to Curr...

Yesterday, 11:35 PM

Posted By x-bot in iDevice News

During Apple’s Q2 financial call today, the company mentioned that big-box retailer Best Buy would be supporting Apple Pay in stores later this year, and Best Buy will allow customers to make purchases within the company app using Apple Pay starting today. The news is notable because of Best Buy’s alliance with MCX, or the Merchant Customer Exchange, a retailer’s association that wants to start its own mobile payments platform called CurrentC.

MCX and CurrentC made headlines in November, just after Apple Pay launched, when many MCX members—including Best Buy, 7-11, and CVS—disabled some Near Field Communications (NFC) devices that would allow Apple Pay to work at the chains’ registers. Instead, MCX companies said they would be adopting a more “consumer friendly” option called CurrentC, which would work using QR codes. The most apparent reason for companies to adopt CurrentC seemed to be that it would only work with debit cards—ideally replacing some customers' credit transactions, which require the retailer to pay a transaction fee to the bank, with debit transactions. CurrentC is set to launch sometime this year.

Now Best Buy is saying that it will break ranks with big retailers who have stood in solidarity with MCX, but it still remains committed to working with MCX. "Today’s consumers have many different ways to spend their money and we want to give our customers as many options as possible in how they pay for goods and services at Best Buy,” the company said in a statement.

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Tim Cook: Component Cost Breakdowns on Apple Products Are...

Yesterday, 10:48 PM

Posted By x-bot in iDevice News
During today's Q2 2015 earnings call, Apple CEO Tim Cook noted that Apple Watch margins are lower than the company average, and on a followup question about those margins in the context of the Apple Watch Edition's high price, Cook commented on the inaccuracy of estimated cost breakdowns on Apple products.

"I haven't seen [them for Apple Watch], but generally there are cost breakdowns around our products that are much different than the reality. I've never seen one that is anywhere close to being accurate," Cook said. He went on to say that the Apple Watch's functionality is "absolutely incredible" with a lot of new features and innovative technology.

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We haven't seen cost breakdowns on the components of the Apple Watch hinting at a possible base unit price that would reveal Apple's profit margin, but such component breakdowns are often shared by analysts following device teardowns. The iPhone 6 and 6 Plus, for example, were estimated to have a parts and labor cost of approximately $200, resulting in a 69 percent gross profit margin based on the device's $649 base selling price.

iPhone 5s component cost was estimated to begin at $199, and iPad Air component cost was estimated to begin at $274. All of these estimates, which come from IHS iSuppli, include only part costs, leaving out other expenses like research and development, software creation, marketing, and distribution, which may explain Cook's comments on inaccuracy.

According to Cook, it's "intuitive" that Apple Watch margins would be lower than the company average during the first quarter, as the first quarter of any new product is "a learning period." Cook declined to provide guidance beyond the current quarter, but Apple Watch profit margins could improve in the future as component costs drop as they do over time with any new technology.mf.gif


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How to navigate using only your Apple Watch

Yesterday, 10:45 PM

Posted By x-bot in iDevice News
As a sufferer from dysmappia (not a real word), I still get lost in a town I’ve lived in for 15 years. The iPhone and GPS accessibility has allowed me to find my way around pretty much any urban centermf.gif


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11 key takeaways from Apple’s latest blockbuster financia...

Yesterday, 10:40 PM

Posted By x-bot in iDevice News
The iPhone 6 is a monster hit, China is falling hard for Apple, and Tim Cook is delighted with the world’s response to the Apple Watch. And those are just some of the key insights from today’s Apple earnings call.mf.gif


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Apple CEO Tim Cook: We're 'Working Hard' to R...

Yesterday, 09:50 PM

Posted By x-bot in iDevice News
During today's earnings call covering the second fiscal quarter of 2015, Apple CEO Tim Cook did not share information on Apple Watch sales, but there were several analyst questions on the new wearable, leading Cook to shed a bit of light on Apple's efforts to fulfill orders.

According to Cook, demand for the Apple Watch is much greater than supply, but the company is "working hard to remedy that." He said that Apple made a lot of progress on that over the past week, and was able to deliver the Apple Watch to more customers than Apple had originally anticipated.

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"We're going to keep doing that," Cook said, noting that some customers would begin receiving updated info on improved shipping estimates today. Apple is "generally happy" with its efforts to boost supply and get the Apple Watch out to customers as soon as possible, and Apple Watch availability may expand to other countries in late June. "It is a new product for us. With any new product, you wind up taking some time to fully ramp."
I think we're in a good position and sometime in late June we currently anticipate being in a position where we could begin to sell the Apple Watch in additional countries. That's our current plan.
Cook said that it was difficult to gauge demand without a product in stores, and that customer response has been "overwhelmingly positive." Apple is also "far ahead" of where it expected to be from an application point of view. According to Cook, the iPhone had approximately 500 apps available at launch, while the iPad had 1,000. Apple hoped to meet or beat the iPad's 1,000 available apps at launch internally, but far exceeded that with 3,500 available apps. "We couldn't be happier about how things are going from that point of view."

Cook noted that Apple is "learning quickly about customer preferences between the different configurations" and that the company will be making adjustments to get in line with demand.mf.gif


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Apple aiming to launch Apple Watch in second-wave of coun...

Yesterday, 09:43 PM

Posted By x-bot in iDevice News

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Apple CEO Tim Cook announced during the company’s Q2 earnings call this evening that he anticipates Apple Watch will launch in additional countries by late June. As of right now, Apple Watch is only available in 9 countries. A report earlier this month claimed that Apple would launch Watch in a second-wave of countries on May 8th, but we quickly debunked that rumor.

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Cook went on to say that Apple is quickly leaning about customer preferences when it comes to Apple Watch. This includes the varying popularity of the Sport, Apple Watch, and Edition variations. Cook also touted throughout the call that there are more than 3500 Apple Watch apps available, which is more than both the iPad and iPhone had available at their respective launches.

Cook didn’t mention which specific countries would be included in the second-wave of Apple Watch counties. Availability has been extremely limited in the first 9 counties, so it remains to be seen how big the second-wave of countries will in fact. Cook also pointed out that Apple Watch was shipped to more pre-order customers in the initial 9 countries over the weekend than Apple had originally anticipated it would be capable of.

“We were able to deliver Apple Watch to more customers over the weekend than we initially expected. I’m generally happy with how we’re moving with the ramp. With any new product, you end up taking more time to ramp. By some time in late June we currently anticipate being in a position that we could begin to sell the Apple Watch in additional countries”

Finally, Apple CFO Luca Maestri shared that Apple Watch margins will be lower than the company average for products. More from the earnings call in our live blog here.


Filed under: Apple Watch Tagged: Apple, Apple watch, availability, earnings call, Tim Cook, Watch 377285 377285 377285 377285 377285 377285 377285 b.gif?host=9to5mac.com&blog=22754319&pos

For more information about Apple, Tim Cook, and Apple watch continue reading at 9to5Mac.

What do you think? Discuss "Apple aiming to launch Apple Watch in second-wave of countries by late June" with our community.


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MCX Member Best Buy Begins Accepting Apple Pay in App, In...

Yesterday, 09:35 PM

Posted By x-bot in iDevice News
bestbuy.jpgOn an Apple Pay update shared during today's second quarter earnings call, Apple CEO Tim Cook announced that Best Buy will begin accepting Apple Pay in its iOS app today, with full Apple Pay support coming to Best Buy stores later in 2015.

Best Buy's move to adopt Apple Pay is notable because Best Buy was previously a member of MCX, the Apple Pay competitor that's pushing the CurrentC payments service. CurrentC, which uses barcodes rather than NFC for payments, remains in testing and will launch later this year.

Best Buy follows MCX member Meijer in offering Apple Pay to customers, and while both companies signed exclusivity agreements, MCX CEO Dekkers Davidson has said that there are no penalties or fines for leaving the MCX program. MCX members are not able to accept both CurrentC and Apple Pay at the same time, so it remains unclear if Best Buy remains a part of MCX.

Apple also announced that the number of locations accepting Apple Pay has now tripled since the service first launched in October of 2014.mf.gif


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App Store Sees Record Performance in Q2 2015 With 29% Inc...

Yesterday, 09:21 PM

Posted By x-bot in iDevice News
appstore.pngDuring today's Q2 2015 earnings call, Apple CEO Tim Cook announced that the App Store saw its best quarter ever, with 29 percent growth year over year. The entire services category, which includes the iTunes Store, App Store, Mac App Store, iBooks Store, AppleCare, ApplePay, licensing, and other services also reached a record quarterly revenue of $5 billion, up 9 percent year over year, with growth largely coming from the App Store.

According to Apple CFO Luca Maestri, the App Store remains "incredibly popular" with customers around the world, and in the March quarter, it saw 70 percent more revenue than Google Play.

Apple also an update on HealthKit-based apps, which are part of Apple's recent health and fitness initiative, aggregating all of a user's health and fitness data. According to Cook, HealthKit has been highly successful, and there are now 1,000 HealthKit-based apps in the App Store.

Along with HealthKit, Cook also touched on apps for the Apple Watch. There are now 3,500 Apple Watch apps available for download. Cook said customer response to the Apple Watch was "overwhelmingly positive" and that Apple "can't wait to see more inspiring apps" for the Apple Watch as we creep closer towards the 2015 Worldwide Developers Conference.mf.gif


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Best Buy to gain Apple Pay support in-app today, in retai...

Yesterday, 09:16 PM

Posted By x-bot in iDevice News

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Apple CEO Tim Cook announced today during the company’s earnings call that Best Buy will gain support for Apple Pay in its iOS app today and will begin accepting it in retail stores later this year. Best Buy’s decision is big news because the electronics chain was previously part of the coalition of companies working on the ill-received “Current-C” mobile payment system.

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#ApplePay now accepted in the @BestBuy app and is coming to stores later this year: corporate.bestbuy.com/?p=8984 http://t.co/2s5yI7M1u1


Best Buy News (@BBYNews) April 27, 2015

Best Buy took to Twitter during the call to confirm the announcement.

Previous reports had indicated that Current-C retailers would not be able to accept payments from other mobile systems, but that policy was quickly clarified following public outcry, with the creators of the software saying that the exclusivity agreement would last for only “months, not years.

Other Current-C partners have already jumped ship and moved to Apple Pay as well.

You can pick up Best Buy 9.1 for iOS with support for Apple Pay right now. You’ll be able to use your iPhone or Apple Watch in physical Best Buy locations this fall.


Filed under: AAPL Company Tagged: Apple pay, Best Buy 377264 377264 377264 377264 377264 377264 377264 b.gif?host=9to5mac.com&blog=22754319&pos

For more information about AAPL Company, Best Buy, and Apple pay continue reading at 9to5Mac.

What do you think? Discuss "Best Buy to gain Apple Pay support in-app today, in retail stores this fall" with our community.


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Apple’s Q2 2015: iPhone 6 is still star of the show, iPad...

Yesterday, 09:08 PM

Posted By x-bot in iDevice News

Apple's earnings report for the second quarter of fiscal 2015 has arrived, and while the numbers are different the story is pretty much the same as last quarter. iPhone sales are way up, and they account for over two-thirds of Apple's revenue. Macs continue to grow at a respectable rate, while iPads take another sharp year-over-year tumble.

Apple broke quarterly records with $13.6 billion in profit and $58 billion in revenue, compared to $10.2 billion in profit and $45.6 billion in revenue in Q2 of 2014. It maintained a gross margin of 40.8 percent. These results easily beat Apple's guidance for the quarter, which predicted revenue between $52 billion and $55 billion and profit margins between 38.5 and 39.5 percent.

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Andrew Cunningham
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The biggest percentage of Apple's bread is still buttered in the Americas—it made $21.32 billion there this quarter—but growth is the strongest in China, which unseats Europe as Apple's second-largest territory. Apple made $16.82 billion there, compared to $12.20 in Europe. Sales are also up significantly in the Asia Pacific region, though they're down just a bit in Japan.

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