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Tim Cook: Apple is 'looking at new categories' of devices

Apple's CEO says the company is investigating new product areas, hinting an iWatch or iTV is on the way.

Apple is looking to expand its product range, investigating new areas of devices, CEO Tim Cook has said. Cook made the statement in a meeting to reassure shareholders concerning the company's plummeting stock price.

The company has had "the mother of all years", according to the Cookie monster, speaking at Apple's Cupertino headquarters, our colleagues over in the US report. You might be wondering where all the new products are then. "Obviously we're looking at new categories," Cook said, "but we're not talking about that." New categories, eh? Could they be a watch, a telly, or a cut-price handset?

Apple's stock has fallen 37 per cent since hitting a record high a few months ago. Quizzed on it, Cook said, "I don't like it either." But he reiterated Apple is focused on its long term strategy of producing great products. He said staff are working harder than ever and the company "has some great stuff coming."

He didn't seem phased by Android's seemingly inexorable rise either, stressing Apple wants to make the best products, not just to flog the most. Though he was keeping an eye on the competition, adding, "We don't have our head stuck in the sand."

Apple is expected to fall from the top spot of Forbes magazine's most admired companies list for the first time in six years. Though it was still voted number one and two in polls of the strongest brands for businesses and consumers, respectively.

But it's the gadgets we really want to know about. A team of 100 people are reported to be working on an Apple-branded watch that'll talk to your smart phone. Rumours concerning the company's first TV set have died down of late, but I think they'll hot up again towards the end of the year, when the device is expected to launch. Apple is also rumoured to be working on a cheaper version of its iPhone, to help it compete with Android's dominance.

Has Apple lost its way? What would you like to see next from the company? Let me know in the comments, or on Facebook.