Jobs called the TV business a ‘horrible one’ citing low margins, according to a new book. 

Tim Cook Steve Jobs Steve Jobs would say no to an Apple TV set

Rumors about Apple working on a TV set, iTV, have been floating around for a few years now. So far the company hasn’t officially laid out its plans, and it’s unlikely that it will in the coming months. Former CEO and co-founder Steve Jobs held the view that Apple should stay far away from this market. But now it’s Tim Cook who decides what path the company takes.

Former Apple reporter for the Wall Street Journal, Yukari Iwatani Kane, takes a look at the company’s new direction in his book Haunted Empire: Apple After Steve Jobs. Apparently at one of Apple’s annual top-100 meeting, Jobs would take the company’s top 100 executives to a remote retreat, he was asked by an executive about the company’s plan to jump in the TV market given that there were so many rumors going around predicting that it would.

 “No,” Jobs replied, adding that “TV is a terrible business. They don’t turn over and the margins suck.” The book claims this meeting took place in 2010, when Jobs was believed to be quite sick.

An Apple television set might not have happened back then, but as we look towards the future, there’s really no predicting what Tim Cook’s views are on this particular market. He has already hinted that Apple plans to enter new product categories, though that’s widely interpreted as Apple’s foray into the wearable market. Cook is often criticized for not coming up with something “revolutionary” during his rule as Apple’s leader, but that’s not enough reason for the company to jump into a market it has never competed in before.

Recent rumors and analyst predictions about the iTV project suggest that it has been thrown in cold storage, and that one shouldn’t expect to see anything concrete until 2015.

Source: Business Insider