Telecom & Wireless
Cellphone Sales Down, But Not For Apple (AAPL)
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Cellphone sales dropped worldwide in the first quarter, but concerns that Apple (AAPL) iPhone sales may have been hurt appear to be overblown.
According to IT research firm Gartner, cellphone sales dropped nearly 9% in Q1. Many retailers tried to clear out their stocks of unsold phones. It is not clear if demand will allow them to rebuild inventories.
Sales of the Apple (AAPL) iPhone were up 13% from the same quarter last year, meaning at least part of the high-end smartphone industry is doing well. Apple’s continued success may come at the expense of the RIM (RIMM) Blackberry, especially as Apple adds new features aimed at business users.
Apple’s good fortune may also make the launch of the new Palm (PALM) Pre, which is scheduled to come out next money, more challenging.
Douglas A. McIntyre
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