Apple announced late yesterday that it is cutting the price of its popular iPhone to $99 and will introduce two new iPhones priced at $199 and $299. Dubbed the 3GS because of added speed, the new phones will have memory of 16GB or 32GB.
The move could put pressure on rivals such as Palm and Nokia, analysts said, and it could also broaden the appeal because the lower price will probably appeal to cash-strapped consumers. Apple has consistently exceeded it profit targets and has managed to grow profits even in thsi recession (see The Sweet Taste of Apple).
Tuesday, June 9, 2009
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