“Apple is hitting Nokia when it’s vulnerable. Analysts said that would help to expand its market in lower-end Asian and developing markets. The two-generation-old iPhone 3GS will be offered free, as long as users sign a contract. RIM shares trading on the Nasdaq stock market slid nearly 3 percent before ending 2.4 percent higher. It said more than 90 percent of Fortune 500 companies are testing or using its iPhones and iPads, expanding its presence in a corporate market dominated by RIM. On a brighter note, the company would seem to be making inroads into potentially pivotal new markets. The iPhone, which accounts for more than 40 percent of Apple’s sales, has been a success since it came out in 2007, making Apple into one of the world’s leading consumer electronics companies. “It’s kind of funny - if they have gone and called it the 5, the stock would have been fine, but they’re calling it the 4S, which is a disappointment to some,” said WP Stewart portfolio manager Michael Walker. Apple sold more than 20 million units in the third quarter ended June 25. Īnalysts say it is more crucial than ever to sustain the popularity of its aging iPhone 4. Tuesday’s “Let’s talk iPhone” show marked Cook’s unofficial debut since taking over from Jobs in August. Its launches are some of the hottest events on the tech calendar. In some ways, Apple may have been a victim of its past success. The pancreatic cancer survivor, who took his third medical leave in August, did not appear. Some shareholders and analysts hoped for a cameo appearance by Jobs, now chairman. “It’s a mild disappointment, but they’re still going to be selling millions of units.” “It’s been 16 months and all you’ve got is an A5 processor in the existing iPhone 4,” said BGC Partners’ analyst Colin Gillis. While the gadget wasn't as tricked out as some had hoped, analysts liked its voice-enabling technology that helps users vocalize everything from stock price searches to sending messages - more easily than on Android phones or Research in Motion RIM.TO RIMM.O Blackberries. Investors and fans, looking to be blown away by some amazing surprise, sent the shares down as much as 5 percent before they recovered with the market to close down 0.6 percent.Ĭook, who took over from Jobs in August, and his executive team showed off a device that comes with voice recognition and a better camera, but looks identical to the last phone and does little to lift the bar for smartphones. Newly minted CEO Tim Cook ably helmed his first major product launch without former boss Steve Jobs, but failed to ignite the sort of excitement and buzz that the charismatic Apple co-founder once did.Įxpectations were high at this critical juncture, when Android phones by Samsung Electronics 005930.KS and other rivals are closing in on Apple's lead and the important holiday shopping season gets started. ![]() * Experts single out voice-powered commands (Adds links, details on features, analyst’s comments))ĬUPERTINO, Calif., Oct 4 (Reuters) - Apple Inc's AAPL.O newest iPhone left Wall Street and fans wishing for more than a souped-up version of last year's device, igniting a rare storm of criticism and disappointment on the Internet. * Fans react with disbelief, shares recover * Steve Jobs does not appear at the event
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