Wednesday, August 1, 2012

Apple Inc. (NASDAQ:AAPL) Slips Into Red After Opening Higher

As per two individuals From Bloomberg sources, who are acquainted with Apple Inc.’s  (NASDAQ:AAPL) plans, the company is making preparations for introducing the next version of iPhone on 12th September. iPhone is Apple’s best selling product and the curiosity over the design overhaul of the upcoming model can be imagined.

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According to sources, the new iPhone will have a sleeker body with a larger screen. It is expected to tie up with AT&T Inc.(NYSE:T) and Verizon Communications Inc.(NYSE:VZ) Wireless’s long-standing evolution wireless networks.

The change in design will be the first for iPhone smartphones since the company had launched iPhone 4 in 2010. The update of 2011 had the same appearance as the 4S. Curiosity surrounding the new model has resulted in a decline in sales and profit goals for three months, June being the last. iPhone was responsible for 46% of the company’s revenue in the quarter.

Currently, Apple Inc. is undergoing a legal suit against Samsung Electronics Co. for exercising monopoly in the smartphone market that has a value of $219.1 billion. Apple always had the strategy of releasing a new smartphone every year. Samsung, on the other hand, became the world’s leading handset manufacturer by launching devices of a variety of sizes and costs.

The September debut was reported initially by a technology news website, iMore. A spokeswoman at Apple Inc., Natalie Harrison has, however, refused to comment on this.

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There were hints in Apple’s quarterly financial reports that the company is gearing for a new product launch. According to an analyst at Wells Fargo Securities, Marynard Um, the company has increased prepayments for components by an amount of $1.15 billion. Such a jump is indicative of the fact that there may be a new product to be introduced.

It is believed that Steve Jobs had been involved in the redesigning of the smartphone before his death in October.
Shares of AAPL were recently trading at $608.38, down 0.41% after gaining about 0.80% earlier in the session.

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