Apple Investing More on Next-Generation Products

Apple Inc. said Friday that it is investing more on next-generation products, including the Apple TV set-top box, to increase its market share.

Several investors and executives at Silicon Valley raised concerns on the Cupertino, Calif.-based company's ability to regain dominance in the technology industry, especially now that Samsung Electronics, its greatest rival, has taken much of its market share. Technology industry executives and Apple observers, on the other hand, believe that the tech giant will come up with attractive devices or products that will match Samsung's Smartwatch, Google Glass, and other products of its rivals.

During the company's annual meeting held Feb. 28, Apple CEO Tim Cook announced that it has sold over $1 billion worth of Apple TV set-top boxes in 2013 and is putting great effort in its next line-up of merchandises.

"We're working on some things that are extensions of things you can see and some that you can't see," Cook announced at the annual meeting as quoted by Reuters.

While he was obviously trying to lead the discussion out from the product, he clarified misconceptions about the Apple TV business, which has long been described as Cook's "hobby" which he clarified with "it's a little more difficult to call it a hobby these days," implying that the product has taken a huge amount of investment.

When asked about innovation, Cook said that the company does not talk about its new products, particularly products that are under development so as not to give its rivals a hint and not jeopardize the company's marketing strategies.

"You can see we're getting ripped off left, right and sideways," he told Reuters.

As the annual meeting happens, Apple's shares fell by 0.27 percent to close at $526.24. Though the number is greater than its lowest point in June, which is $400, it remained below the company's record high -- $700 - on 2012.