Handset makers are tired of Apple (NASDAQ: AAPL) kicking sand in their faces with the upcoming launch of the iPhone. Several of them are launching competing products.
Nokia (NYSE: NOK), the world's largest handset company which has a global market share of 36%, has introduced (subscription required) the N95 which has both a color screen and DVD level video quality. LG Electronics has launched a slick phone called the Prada which has a touch screen not unlike the iPhone's. And, Sprint (NYSE: S) will offer the UpStage from Samsung with a retail price of $99.
The difference between most of the handset companies and Apple is that they are already selling tens of millions of phones a month. Expectations that they will do substantially better are fairly low.
The success of the iPhone means much more to Apple. Its shares are up over 100% this year to an all-time high of $123 in part because of anticipation of a monster launch for the new device.
All the competition has to do is hold its own.
Douglas A. McIntyre is a partner at 24/7 Wall St.
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