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.
Jobs had told biographer Walter Isaacson that he thought Apple had "cracked" TV, but did not confirm at the time that such a product would be released.