Apple CEO Tim Cook hints at 'new products' – the iWatch?

Interesting stuff over night as Apple CEO Tim Cook faced investors and business journos poring over the company’s latest financial figures at its annual shareholder meeting.

The CEO is facing a mini revolt from investors who aren’t keen on the fact he is taking a 51% rise in his base salary. Details here.

So no surprise then that the Apple CEO try to deflect the discussion away from salaries and falling share prices by hinting about new products.

Cook told the shareholders that the company were “looking at new categories” for products.

There was no hint as to what those products might be, but it is the closest confirmation we have that Apple is mulling over an iWatch – a smart watch that teams up with an iPhone.

It has been widely reported that the company has over 200 people working on the project and it has filed patents purportedly showing some elements of its design.

Then again there are also rumours of an Apple TV as well as potentially other types of wearable gadgets akin to the Google Glass project.

It would certainly cheer investors were Apple to launch into a new area. The iPhone is under huge pressure to maintain its market share and while the iPad pretty much single handedly created the tablet market it too is facing stiff, and in many instances significantly cheaper competition.

Nevertheless in its last quarter it managed to sell 47.8 million iPhones, 22.9 million iPads, 12.7 million iPods, and 4.1 million Macs.

You can see what the iWatch might look like here.