Highlights from Apple's Shareholder Meeting

Posted by: Arik Hesseldahl on March 04

Details are starting to emerge from Apple’s meeting with shareholders, taking place in Cupertino today. Among the tasty bits:

The iPhone will launch in China Asia this year. (We knew that. When? And in what countries?!?)

India is also on the official iPhone roadmap, (is this new?) though its not clear whether COO Tim Cook meant to imply it would happen in 2008 or later. Quoted by Reuters he said: “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.” One day in 2008? Or one day in the 21st Century?

CEO Steve Jobs said there are “no plans” to consider either a stock buyback or to start paying a dividend. After ticking up throughout most of the day, the stock is down 40 cents as I type on this news, as rumors had been circulating about a possible buyback. Update: It finished the day up $2.89 or more than 2%.

Jobs also reiterated, as if anyone should be doubting it at this point, that Apple will hit its iPhone unit sales goal of 10 million.

Also, shareholders passed a resolution in favor of giving them more of a say in determining compensation for senior executives. The resolution calls on the board of directors to vote on a non-binding resolution each year regarding the payment packages of top executives. The resolution had been opposed by the board, and didn’t pass last year. The resolution was brought up in the wake of the stock options matter that hung over Apple like a clouded during 2006 and part of 2007. Shareholders also voted down a resolution that would have called on the board to create a special committee on sustainability to address environmental concerns.

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