This one chart shows why Apple’s “new categories” can’t come soon enough

Apple CEO Tim Cook holds the new iPad Air during an Apple announcement at the Yerba Buena Center for the Arts on October 22, 2013 in San Francisco.

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Whatever it is Apple has cooking (and many expect a watch or possibly a more serious entry in the television space), it can't come soon enough. While smartphones continue to grow, most of that growth is in the low-end and mid-tier of the market–areas Apple has continued to eschew in favor of producing premium iPhone models.

In its earnings report this week, chipmaker ARM Holdings forecast that the high-end part of the smartphone market — the only part in which Apple currently competes — will grow only an average of 4 percent over the next five years.

Read the whole story at Re/code.

—By Ina Fried, recode.net.

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