Apple has not indicated how often they plan to update their hot selling iPhone, however there is major rumors that a new iPhone is on it’s way, it might be as early as this summer. As with every rumor, many details emerge with only the consumer being able to decide for themselves if they are willing to accept the details or to steer it away as just being someones wild imagination. Some say that the design for the new iPhone has leaked, however many dismiss it as being unlikely.
Why should Apple need to update their iPhone, when their sell iphone 5s is a record hot selling cell phone, and is keeping strong in sales for almost a year? The answer is Wall Street.
At the announcement of the iPhone by Apple’s Steve Jobs, Steve has raised expectations too high by specifying Apple’s target of selling 10 million iPhones by the end of 2008. Now even though Apple announced in January of this year that since its launch of the iPhone on June 29 and up to mid-January, it had sold 4 million iPhones, most analysts were expecting a number more like 5 million. So even though the iPhone has been far more successful than anyone should have expected, since Apple has over estimated at it’s launch it has caused shares to stumble.
However, Apple’s Chief Financial Officer Peter Oppenheimer has announced in Jan. of 2008 that Apple is still “feeling confident” about reaching its goal of 10 million iPhones by the end of 2008. The question is, how will Apple do it? New markets is very unlikely to help the dilemma, since Apple has already targeted the global market in the past, not leaving any room for further expansion. Now the only market left aside by Apple in the past was China. However, the iPhone is too expensive for China and, besides, China has already got a bunch of iPhone counterfeit clones for Apple to compete with.
The next option would be new prices, however, although lowering prices will increase sales, analysts are skeptical if will get Apple to their 10 million goal, since it is highly unlikely that cheapskate holdouts will out-buy the Apple fans and gadget freaks who already own iPhones.
So the only way Apple could possibly feel “confident” of reaching 10 million units by the end of 2008 is if the company were to sell more iPhones during next year’s holiday season than it did during the 2007 season. And the only way to do that is to sell to existing users. And the only way to do that is to come out with a new iPhone.