Apple looking at cars, medical devices for growth

2014-02-18 17:48

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Apple is looking at cars and medical devices to diversify its sources of revenue as growth from iPhones and iPads slow.

A newspaper report said Apple’s head of mergers and acquisitions, Adrian Perica, met Tesla Motors founder Elon Musk at the company’s headquarters last year at about the same time analysts suggested that Apple acquire the Model S electric car maker.

The company is also exploring medical devices and sensors that can help predict heart attacks by studying the sound that blood makes as it flows through arteries.

The company’s senior vice-president of operations, Jeff Williams, has met US Food and Drug Administration (FDA) chief Dr Margaret Hamburg and Dr Jeffrey Shuren, who oversee the agency’s approval for medical devices, to discuss “mobile medical applications”, the paper reported, citing FDA records.

Apple could not be reached for comment.

Rival Google recently bought thermostat maker Nest Labs for $3.2 billion (R34.7 billion), robot maker Boston Dynamic and artificial intelligence start-up, DeepMind Technologies. The company has also been working on projects including Google Glass and self-driving cars.

Investors hope that Apple, which last came out with a new device – the iPad – in 2010, has something up its sleeve for 2014. Speculation revolves around a Smartwatch or a long-rumoured TV product.

Apple is expected to launch the iPhone 6, a mid-range Smartphone, and may also launch wearable devices such as iWatch, in the second half of the year.

Others say Apple can use its huge iPhone and iTunes base to get into mobile payments or advertising.

Apple reported lower-than-expected iPhone sales for the holiday shopping quarter and gave a weaker-than-expected revenue forecast. The company has been ceding ground to Samsung and other rivals in China.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.