New Book: Jobs Gave Up on "Terrible Business" of TV
The past several years of rumors about Apple producing an HDTV may be for naught, as a new book is claiming that Apple cofounder Steve Jobs dropped the idea prior to his death in 2011.
According to Business Insider, a new book called "Haunted Empire: Apple After Steve Jobs," by reporter Yukari Iwatani, states that Jobs told Apple executives in 2010 that Apple wasn't going ahead with TV plans. Jobs said at a high-level meeting that:
"TV is a terrible business. They don't turn over and the margins suck," said Jobs. (Unlike iPhones which are wildly profitable and replaced every two years, a TV gets replaced every 8 years, and isn't all that profitable.)
He did want to control the living room, though, he said. He also said the Apple TV, the little video streaming box, would remain a hobby until Apple got all the content it needed.