Apple has plans in store for Beats now that it owns the company, and an announcement is coming about what's in store, but for now CEO Tim Cook isn't saying what we can expect. Mr. Cook shared his little tidbit during the company's fourth fiscal quarter earnings report on Monday afternoon.
Beats announcement coming, but not yet.
Mr. Cook told investors, "The Beats transition closed in July, with some upcoming Beats plans to be shared in the future."
Apple announced the purchase of Beats was complete on August 1 with the iPhone and iPad maker saying, "Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We're delighted to be working with the team to elevate that experience even further."
Beats includes an audio gear arm that makes headphones and speakers, and a streaming music service, both of which now belong to Apple. So far, Apple hasn't said exactly what will become of Beats now that it's part of the Cupertino company. It's been clear Apple has plans for Beats, but so far hasn't offered any hints as to what will become of the audio gear and streaming music parts of the company.
With Mr. Cook saying an announcement is coming, it's a safe bet we'll see an upswing in rumors and speculation on what's coming for Beats. It may not be much, but Mr. Cook's offhand line during today's earnings report is more than we've heard about the future of Beats so far.