During Apple's latest earnings call CEO Tim Cook made it clear  Apple is more concerned about creating a great product than being first to market and revealed the company is very close to launching a new product category.

Apple has launched many revolutionary devices beginning with the Mac. It wasn't until Steve Jobs was fired from the company and his subsequent return that Apple began its unbelievable comeback. During Apple's most recent earnings calls, the CEO reminded everyone Apple wasn't the first company to ship the first MP3 player, it wasn't the first smartphone maker, and there were tablets on the market 10 years before the iPad.

The CEO then went on to calm investors by revealing the company is the closest it has ever been in launching a brand new product category.

"The key thing for us ... is to stay focused on things that we can do best and that we can perform at a really high-level of quality that our customers have come to expect. And so we currently feel comfortable in expanding the number of things we're working on. So we've been doing that in the background and we're not ready yet to pull the string on the curtain. But we've got some great things there. We're working on them. Very, very proud of and very, very excited about."

Of course, Cook did not say what the product would be, but it's pretty clear the CEO was talking about the company's upcoming iWatch smartwatch. He even threw a dig that seemed to be directed at Samsung's Galaxy Gear smartwatch. Samsung reportedly rushed the smartwatch to market because it wanted to beat Apple. He explained there are products out in the marketplace that had a clear objective of being first. He explained customers don't want half-baked products and they look to Apple to build insanely great products and that's why Apple takes its time with introducing new products.

Apple is widely expected to launch its first iWatch smartwatch alongside the introduction of its next-generation iPhone 6 in the fall.