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10:12 a.m.

Schiller introduces the iPhone 5.

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10:10 a.m.

Cook gives an audience of journalists, analysts, bloggers and other guests a review of Apple’s achievements.

He says the company now has 380 stores in 12 countries, with one opening in Sweden on Friday to make 13.

Cook recalls the summer launch of a new operating system for Mac computers, known as Mountain Lion. He says 7 million copies have been downloaded so far. He says Mac computers are selling well, as are Apple’s iPad tablet computers _ 84 million so far.

He pokes fun at tablets from rival companies: “I don’t know what these other tablets are doing,” he says, suggesting they are probably being kept in drawers somewhere.

That remark drew laughter.

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10 a.m.

Cook is on stage and showing an Apple store in Barcelona.