One of Apple Inc.'s (NASDAQ:AAPL) top executives, Phil Schiller, admitted in court that he is unsure if the App Store is profitable. Apple's late co-founder, Steve Jobs, could be the reason behind Schiller's uncertainty.
What Happened: Schiller, who has been with the App Store since its inception, testified that he never considered the return on investment (ROI) when launching the store, reported 9to5Mac. He also stated that Apple does not record minutes of meetings between senior executives.
This revelation came as part of an antitrust case against Apple in Australia.
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When asked if he had any idea whether the App Store was profitable, Schiller replied, “I believe it is [profitable]," when probed by Epic Games' lawyer.
However, he clarified that profit is not a ...