Apple said to suspend plans to introduce television set: WSJ

[SAN FRANCISCO] Apple Inc suspended plans to make a TV set more than a year ago, the Wall Street Journal reported, citing people familiar with the matter.

Instead, the company is working on a new Apple TV set-top box and related online services, the newspaper reported. Those plans have been widely reported by Bloomberg News and other media.

Earlier on Monday, activist investor Carl Icahn wrote an open letter to Apple Chief Executive Officer Tim Cook, saying that the Cupertino, California-based company is undervalued and its shares are worth US$240, 86 per cent above where they closed Friday. Mr Icahn's new enthusiasm is driven by his belief that Apple will dominate in two new categories, television and automotive.

Apple is holding its annual developer conference next month, where it is expected to provide an update to its plans for TV and other products.

Tom Neumayr, a spokesman for Apple, didn't respond to a request for comment.

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