Apple TV is still a "hobby" to Apple

During the Q&A session of Apple's financial earnings call for the third fiscal quarter of 2011, the company was asked about the current status of its Apple TV, including sales and future updates. In response, Apple didn't give much information on what it plans to do with the Apple TV (as expected). However, Tim Cook, Apple's acting CEO and COO, did confirm to everyone listening that the Apple TV is still a "hobby" to the company. 

Steve Jobs, Apple's CEO, has stated multiple times in the past that the Apple TV is just a "hobby" to the Cupertino-based company and will be updated as needed. The latest update to the Apple TV occurred this past fall, where Apple switched to a completely streaming-based device. 

Finally, Cook concluded his response by saying Apple is happy with the Apple TV right now, that it made a great decision moving to a streaming device, and that it continues to invest time and money into the Apple TV because of the potential market the media device has.