Apple Inc. Executive Comments On Automotive Market

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Apple Inc.'s
AAPL
wowed technology afficianados at a conference Thursday with a teasing comment about his company's potential interest in the automotive market. http://recode.net/2015/05/27/apples-jeff-williams-the-car-is-the-ultimate-mobile-device/ "The car is the ultimate mobile device," Apple Senior VP Jeff Williams said, according to a re/code report. Apple has several hundred employees secretly at work on an Apple-branded electric vehicle, according to several reports that surfaced in February, citing informed but anonymous sources. http://www.ft.com/cms/s/0/84906352-b3a5-11e4-9449-00144feab7de.html#axzz3bSvbyIdT The company hasn't confirmed the project. "We're exploring a lot of different markets," Williams told the conference, according to re/code, which sponsored the event. Williams said a decision to jump into new businesses isn't based on potential revenue growth, but rather on "which ones are ones where we think we can make a huge amount of difference," according to re/code. Many observers regard an Apple-made automobile as extremely unlikely, according to the Financial Times, which noted the company lacks factories. "It's one thing to draw pictures but it's a quantum leap to manufacture things," an industry executive told the British newspaper. Apple currently offers CarPlay, which incorporates iPhone services like navigation, messaging and music into automobile dashboards. https://www.apple.com/ios/carplay/ Google Inc. NASDAQ: GOOGL), which offers the similar Android Auto, plans to build a fleet of around 200 self-driving cars for testing its autonomous driving technology. http://www.bbc.com/news/technology-27587558
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