Tuesday, July 10, 2007
At last January's Macworld Expo, Apple’s CEO, Steve Jobs, not only announced the iPhone, probably the most hyped product in history, but he also annouced that it was only the beginning, that they had a lot more iPhones on the way. Apparently those were not idle words as reports of a’ Christmas iPhone’ or ‘iPhone Nano’ are on their way for the fourth quarter.
This news, or more correctly speculation, is based on recent patent applications that show a iPhone Nano like device. Also adding to the fire was the following report:
NEW YORK (Reuters) - Apple Inc. (Nasdaq:AAPL - news) plans to launch a cheaper version of the iPhone in the fourth quarter that could be based on the ultra-slim iPod Nano music player, according to a JP Morgan report.
Kevin Chang, a JP Morgan analyst based in Taiwan, cited people in the supply channel he did not name and an application with the U.S Patent and Trademark office for his report dated July 8. Apple filed a patent application document dated July 5 that refers to a multifunctional handheld device with a circular touch pad control, similar to the Nano’s scroll wheel. […] analysts forecast that a cheaper phone from Apple, which leads the digital music player market, could pose a much bigger threat to long-established phone makers such as Nokia and Motorola Inc.
These factors seem credible enough that they helped push Apple’s stock, yet again, to a new record high of $133.81. This now gives Apple a huge and astounding market cap of 115.74 B! The ‘iPhone Nano’ is expected to go for well under $300 and could feed the frenzy of the iPhone to even more dizzying heights, if indeed that is possible!
It’s funny how Microsoft’s CEO Steve Ballmer ridiculed the iPhone after its announcement. He said, "500 dollars for a phone, fully subsidized? That is the most expensive phone in the world!" Of course he deliberately ignored the fact that other phones like the LG Prada goes for $800 fully subsidized!
If true and Apple introduces an affordable’ iPhone Nano’ like device for the Christmas shopping season, it will be really interesting to know and see what Steve Ballmer and other Apple detractors have to say then. I predict it won’t be as condescending as Mr. Ballmer’s last statements were; or will they?
And that’s my word on the’ iPhone Nano’ for Tuesday, July 10, 2007.