Apple Inc. is reportedly in the process of developing a new product: a tabletop robot. This move is seen by industry analysts as a significant gamble.
What Happened: Rumors about new Apple hardware have been swirling for months, as reported by Business Insider. The tech behemoth appears to be shifting its focus towards a new direction: a tabletop robot.
According to Bloomberg's Mark Gurman, the device will feature a large display similar to an iPad and a robotic arm capable of 360-degree movement. The project is said to have the support of top Apple executives, including CEO Tim Cook.
The device could potentially be released as early as 2026 or 2027, with a possible price tag of around $1,000. This is considerably less expensive than the latest iPad, which costs over $3,000 with accessories. However, Apple has yet to comment on these reports.
Despite the apparent backing from Apple's top brass, some industry analysts remain doubtful. William Kerwin, an analyst at Morningstar, expressed skepticism about the success of this rumored device, drawing comparisons with Meta's Portal, a similar home device that was discontinued.
"We're somewhat skeptical about the success of this rumored device, or if it'll ever even get produced," he told the outlet.
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Apple, a company known for setting trends and creating demand, could face a challenge convincing the market of the device's potential. As Kerwin pointed out, "Any new products are essentially a drop in the bucket compared to the iPhone, which remains the firm's largest driver at half of revenue."
"We think a 'robotic limb' seems outside of Apple's core competencies. We could see a less complex Echo-like device being successful for Apple, especially with its newfound generative AI software capabilities," Kerwin said.
Why It Matters: Apple's venture into the realm of robotics signals a potential shift in the company's product strategy. While the company has been known for its innovative products, this move into robotics could be seen as a risky venture.
However, if successful, it could also establish Apple as a leader in the emerging field of home robotics. The success or failure of this product could have significant implications for Apple's future direction and its position in the tech industry.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
