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Ever since Apple Computer (NASDAQ: AAPL) introduced the iPhone to the world, other cell phone companies have been working hard to compete. Verizon (NYSE: VZ) is hoping to find success with the Motorola Droid, which will come with a $199 price tag.The phone will be running on Google's Android operating system, and could be a serious contender against the iPhone, and while most people knew this phone was coming, the real news is that it will start to be sold next week at Verizon's across the nation.
There have been plenty of "iPhone killers" over the past few years that have fizzled out, but Verizon is going to really be pushing these new phones. Verizon wants to get as many customers as possible from rival AT&T (NYSE: T), which currently is the sole provider for the iPhone.
For now AT&T is the only company that carries the iPhone, but that too could be changing. It is thought that Verizon may start providing service for iPhones by the end of next year, but that remains up in the air.
The new phone will have a large touch screen and a slide out keyboard. Whether or not the phone will cut into the iPhone market remains to be seen. Based on the success rate of previous "iPhone killers" the odds are not in its favor.
The iPhone has exploded in popularity, and with Apple lowering its prices on the 3G a lot of people jumped into the iPhone world, and it will be hard to take them away. What this new phone really has to accomplish to cut into the iPhone market is create a "must have" buzz around the product. That is what they are now embarking on, but not an easy thing to do.
What cell phone do you have? If you do not have an iPhone now, would you buy one if you could have it on the Verizon network?
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Reader Comments (Page 1 of 1)
10-29-2009 @ 1:39AM
Beltway Greg said...
Don't be afraid. Apple has exceeded expectations for the past two years and has proven itself again and again under the most adverse economic conditions. Check out the price movement in the fall of 2007. I'm throwing out 2008 because with the fall of Lehmen it's difficult to get a correct read on anything. During the period leading up to
Jan. 08 the traders and funds ran this stock up and down the flag pole. Why? Simple. The spectacular bid and I'm not talking about the horse that won 2/3rds of the Triple Crown. Would you buy a stock that is legitimately worth
$250? Everyone has crumbled just like they crumbled twice before except this time they're not getting 100 points. My feeling is that we could possibly see $185 but not much below and we may be at the bottom. It'll be a slog but if the GDP numbers exceed expectations tomorrow we could see a 200 point day to the upside and Apple could very easily finish the day at $198.00. Either way don't do anything stupid and remember the fix is definitely on.
10-29-2009 @ 8:50AM
Beltway Greg said...
To quote the great social commentator John Lydon a.k.a Johnny Rotten on the occasion of the last show of the Sex Pistols, "Did you ever get the feeling you've been cheated?"
Last quarter the economy grew at rate of 3.5%. What did Goldman say? 2.5%? Keep selling those shares boys. Anytime it gets near $200 keep selling them to Joe Terranova and Cramer.
10-30-2009 @ 12:33AM
Beltway Greg said...
Look I got you a 200 point rise and to $197.00. See you at $220.00 before Xmas. You're on your own from here on out. Just keep watching that Fast Money.