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Telecom & Wireless

Apple (AAPL) iPhone Goes To Korea

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By Douglas A. McIntyre Updated Published
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appleSouth Korea has become the latest country to open up to sales of the Apple (AAPL) iPhone. According to The Wall Street Journal, The Korea Communications Commission has approved the sale of the handset.

The new deal may not seem like much until analysts take into account that fact  that the Asian nation has a population of 50 million. Most of these people in large cities which means that access to 3G service is very high.

South Korea also has one of the largest penetrations of broadband of any country in the world. PC and handheld devices are used extensively there, much more than in the US, Europe, and China. The market is ready made for rapid adoption of a popular device like the iPhone.

The move into South Korea is the latest one by Apple which only recently struck deals to sell the iPhone in China. A device which has made its success primarily by selling phones in the US will soon be available to hundreds of millions of people around  the world.

The iPhone is already a meaningful part of Apple’s earnings, but, with its international distribution, it could surpass the revenue brought in by the Mac and iPod fairly quickly. Apple needed a new and successful product to replace its two old lines of business. It appears that it has one.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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