HHBizzle
06-04-2007, 01:02 PM
SAN FRANCISCO (MarketWatch) -- Apple Inc. said it will release the iPhone on June 29, as the company rolled out a slate of commercials over the weekend to promote the combination mobile phone and iPod music player.
Apple announced the release date in three commercials that debuted on Sunday. The commercials can also be seen on Apple's Web site.
The iPhone will come in two versions: a $499 device with 4 gigabytes of storage, and a $599 device with 8 gigabytes of storage. AT&T will be the exclusive wireless carrier for the iPhone for two years.
Both Apple and AT&T will sell the iPhone at their stores. The device will come with a two-year service contract.
The iPhone, in addition to being a mobile phone and an iPod, will also serve as an Internet connection device and come with a built-in digital camera.
Apple Chief Executive Steve Jobs first showed off the iPhone at the MacWorld show, where he said the device would be on the market in June. The company was seen as needing to meet its release announcement after slightly delaying the release of the Apple TV set-top box in April, and pushing back Leopard, the next upgrade of its Macintosh operating system, to October.
When Jobs debuted the iPhone, he said that within a year, the company hoped to claim a 1% share of the worldwide market of 1 billion mobile phones.
AT&T plans to use the iPhone to enhance its advertising campaign for its newly branded wireless business. The company has phased out the name Cingular Wireless and is adopting the AT&T brand.
Although AT&T is the largest wireless carrier in the U.S. in terms of customers, Verizon Wireless is gaining fast. AT&T executives believe the iPhone could swing momentum back to their company.
AT&T Chief Executive Randall Stephenson, who officially took over the job Sunday, told investors at a conference last week that the iPhone would be a "game changer." The company already has received more than 1 million inquiries from potential customers.
"I don't know what your expectations are for the iPhone, but I would tell you they are probably too low at this point," Stephenson said.
If Stephenson is right -- rival wireless carriers and handset makers such Motorola Inc. are skeptical -- the iPhone could shake up the mobile industry and alter pricing strategies.
The iPhone, for instance, won't be subsidized by Apple or AT&T, allowing AT&T to drop prices on other handset models and put more pressure on its rivals. Sprint Nextel Corp. could be the biggest victim of the iPhone's success, according to analysts.
Shares of Apple were last up $1.56, or 1.40%, to $120.06 in afternoon trading.
Apple announced the release date in three commercials that debuted on Sunday. The commercials can also be seen on Apple's Web site.
The iPhone will come in two versions: a $499 device with 4 gigabytes of storage, and a $599 device with 8 gigabytes of storage. AT&T will be the exclusive wireless carrier for the iPhone for two years.
Both Apple and AT&T will sell the iPhone at their stores. The device will come with a two-year service contract.
The iPhone, in addition to being a mobile phone and an iPod, will also serve as an Internet connection device and come with a built-in digital camera.
Apple Chief Executive Steve Jobs first showed off the iPhone at the MacWorld show, where he said the device would be on the market in June. The company was seen as needing to meet its release announcement after slightly delaying the release of the Apple TV set-top box in April, and pushing back Leopard, the next upgrade of its Macintosh operating system, to October.
When Jobs debuted the iPhone, he said that within a year, the company hoped to claim a 1% share of the worldwide market of 1 billion mobile phones.
AT&T plans to use the iPhone to enhance its advertising campaign for its newly branded wireless business. The company has phased out the name Cingular Wireless and is adopting the AT&T brand.
Although AT&T is the largest wireless carrier in the U.S. in terms of customers, Verizon Wireless is gaining fast. AT&T executives believe the iPhone could swing momentum back to their company.
AT&T Chief Executive Randall Stephenson, who officially took over the job Sunday, told investors at a conference last week that the iPhone would be a "game changer." The company already has received more than 1 million inquiries from potential customers.
"I don't know what your expectations are for the iPhone, but I would tell you they are probably too low at this point," Stephenson said.
If Stephenson is right -- rival wireless carriers and handset makers such Motorola Inc. are skeptical -- the iPhone could shake up the mobile industry and alter pricing strategies.
The iPhone, for instance, won't be subsidized by Apple or AT&T, allowing AT&T to drop prices on other handset models and put more pressure on its rivals. Sprint Nextel Corp. could be the biggest victim of the iPhone's success, according to analysts.
Shares of Apple were last up $1.56, or 1.40%, to $120.06 in afternoon trading.