Apple CEO Tim Cook on Android growth: 'Success is not making the most'

Cook was asked during the question-and-answer session of his company's annual shareholder meeting what he plans to do about Android's explosive growth in the smartphone business. But "success is not making the most," Cook said.

The CEO told shareholders that his company could press "a button or two" that would have Apple make the most products in a particular category. But that "wouldn't be good for Apple," he said.

Some market watchers have continuously called on Apple to expand the iPhone lineup to appeal to more customers. Some believe Apple needs to make a cheaper iPhone that could be sold contract-free in developing countries like China, as well as a large-screen iPhone to compete with popular devices like Samsung's Galaxy Note series.

But while some investors are concerned about market share, Apple has historically focused on maintaining its high margins with products like the iPhone. Though Samsung's overall handset sales exceed Apple, the iPhone maker collected a whopping 69 percent of handset industry profits last year.

Cook also noted on Wednesday that Apple's iOS mobile platform is on "a lot more tablets" than Google's Android is. While Android has grown exponentially on smartphones, through multiple carriers and manufacturers, Google's mobile platform has not had the same success in the tablet market, where Apple's iPad is dominant.