Earlier this year we heard rumors that Apple’s board was pushing CEO Tim Cook to be more innovative. The company has long been expected to release a product, any product, that changes the landscape once again. Rumored products include a smartwatch and a full fledged HDTV, but Apple hasn’t dropped any hints about its future devices. Some people say that the era of innovation at Apple ended with Steve Jobs’ departure, Larry Ellison of Oracle certainly seems to think so. Rest assured, the CEO knows that not innovating in today’s competitive market is going to be fatal for any company. Speaking with Bloomberg, Cook said that Nokia is a prime example for everyone in the industry why companies shouldn’t stop innovation, he believes that “to not innovate is to die.”

Nokia’s phone business used to thrive globally not so long ago, but it lost a lot of its market share after the iPhone and Android established their duopoly. A few weeks ago it was announced that Nokia has sold its core phone business to Microsoft, the deal is expected to be closed within the next couple of months. There has also been much talk online about the fact that iPhone 5C isn’t really a “budget iPhone” that most people thought it would be. Cook says that it was never the company’s objective to sell “a low cost phone,” their objective was to sell a great phone and provide a great experience, and that Apple just “figured out a way to do it at a lower cost.”

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