Apple's wearables now make more money than the iPod did at its peak, Apple CEO Tim Cook has said. He added that Apple Watch and AirPods now have a revenue that's 50 percent more than iPod at its peak. Apple does not reveal how many units of Apple Watch or AirPods it has sold but both are clearly very popular products, if Cook is to be believed. The Apple CEO also said the Apple Watch and AirPods have sold between four and six times as many units as the iPod if you compare the numbers after a similar time period since the product's launch.
Cook mentioned these things in an interview with CNBC on the show ‘Mad Money' hosted by Jim Cramer. It's common knowledge that Apple had been on a downward spiral in the 90s, before former CEO Steve Jobs returned to the helm and steered the company out of trouble. The iPod was a big part of that shift.
One important factor that Cook did not mention is that if Apple was a big company back in the iPod days, it's a behemoth nowadays. Apple makes more money now than it ever did back in the early 2000s. Still, the success of Apple Watch and AirPods often goes under the radar due to the colossal profit-making machine that's the iPhone.
Recently, Apple CEO Tim Cook had mentioned that the company plans to launch new services in 2019. The company just launched turn-by-turn navigation for Apple Maps in India, which is another hint of its commitment to growing revenue from software services.
Apple's coming off a weak quarter which saw iPhone's profits falling for the first time, and Cook mentioned strong services revenues quite a few times in a recent memo to Apple employees.