Speaking at Apple’s annual stockholders meeting today in Cupertino, CEO Tim Cook revealed that the company had sold over $1 billion in Apple TV set-top boxes in 2013, pegging sales at close to 10 million units for the year.
Sales around the 10 million mark would be roughly double the 5 million Apple sold in fiscal 2012, which was itself double the set-top box’s performance in 2011.
The Apple TV has long been referred to as a “hobby” by Cook but even he admitted today that the label may no longer be appropriate for such a successful product stating: “It’s a little more difficult to call it a hobby these days.”
Asymco analyst Horace Dediu has also created a useful chart showing the impressive growth of the Apple TV:
— Horace Dediu (@asymco) February 28, 2014
The Apple TV represents Apple’s fastest growing device in Apple’s hardware lineup and it is, understandably, an area that the company has a keen interest in.
Recent rumors point to updated Apple TV hardware coming this year, perhaps with a redesigned interface and potential support for games. Apple has recently begun incentivising Apple TV purchases at its brick and mortar retail stores, offering a free $25 iTunes gift card with every purchase of the device. This has led some to believe that a hardware refresh is around the corner as the company looks to clear out some of its current inventory.