Apple goal of 10 million iPhone sales stays on track

  • Jonny Evans (Unknown Publication)
  • 04 March, 2008 22:00

Apple remains on course to sell ten million iPhones in the current financial year, senior executives told shareholders Tuesday.

The company's annual shareholder meeting took place at Apple headquarters in Cupertino. Five of the eight board members, including former vice president Al Gore and Google CEO Eric Schmidt, attended the meeting.

Apple CEO Steve Jobs, flanked by chief operating officer Tim Cook and chief financial officer Peter Oppenheimer, answered a few questions.

The men revealed Apple plans to launch iPhone in China and India this year. "We will enter Asia with the iPhone in 2008. We will one day enter China, we're not saying when, and we will one day enter India," Cook said.

Asked about his succession plans, Jobs said: "I've been asked that before. If I'm run over by the bus, I hope there won't be a party." Despite the quip Jobs stressed his belief that "any number" of Apple's top executives could lead the company in his stead.

Led by the AFL-CIO Reserve Fund, shareholders managed to pass a resolution ("Say on Pay" ) that gave them a say on executive compensation. The proposal requires Apple's board to ask that shareholders vote on a non-binding resolution each year regarding pay of top executives.

Shareholders rejected a proposal to create a board committee for sustainability. Apple also said it has no plans for a stock buyback or dividend.