Apple is reportedly considering a new move into social media with a possible strategic investment in Twitter.
“While Apple has been hugely successful in selling phones and tablets, it has little traction in social networking, which has become a major engine of activity on the Web and on mobile devices,” notes The New York Times.
“Social media are increasingly influencing how people spend their time and money — an important consideration for Apple, which also sells applications, games, music and movies,” notes the article.
According to unnamed sources who claim to be briefed on the matter, “Apple has considered an investment in the hundreds of millions of dollars, one that could value Twitter at more than $10 billion, up from an $8.4 billion valuation last year,” details NYT.
A Twitter partnership could prove valuable for Apple, amidst growing competition with companies such as Google and Facebook, which already have a strong footing in the social sphere.
Strengthening the ties between Apple and Twitter would come during an era of significant uncertainty in the mobile market. “Battle lines that seemed clear just a year ago are rapidly blurring as companies push into new areas of the market and clash with former allies,” explains the article.
“Those guys are a great partner,” said Twitter CEO Dick Costolo of Apple. “We think of them as a company that our company looks up to.”
“Apple doesn’t have to own a social network,” said Apple CEO Tim Cook, at a recent tech conference. “But does Apple need to be social? Yes.”
Apple is reportedly considering a new move into social media with a possible strategic investment in Twitter.
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