“Apple Computer Inc. Chief Executive Steve Jobs on Tuesday unveiled the iPhone, its new touch-screen mobile phone that will be able to play music, surf the Internet and take pictures, among other features,” Rex Crum, Stacey Delo and Matt Andrejczak report for MarketWatch.
“‘Apple is trying to do with mobile devices what it did with the computer market — that’s change the game,’ said Gene Munster, analyst at Piper Jaffray, which rates Apple shares outperform,” Crum, Delo and Andrejczak report. “Signaling that direction, Apple said that it plans to change its corporate name to Apple Inc., dropping the word ‘computer.'”
Crum, Delo and Andrejczak report, “Apple said that it aims to sell 10 million iPhones in 2008, which would equate to about 1% market share. Piper’s Munster said he thinks Apple will do a ‘multiple of that.'”
“The phone may be in production, but there’s still a bit of major unfinished business remaining for Apple: getting permission from Cisco Systems Inc. It turns out that Cisco holds the trademark on ‘iPhone,’ the name Cisco’s Linksys division gave to a wireless phone it introduced in mid-December,” Crum, Delo and Andrejczak report. “According to Cisco, it and Apple have been through some extensive discussions recently, and “it is our belief that Apple intends to agree to the final document. We expect to receive a signed agreement today [Tuesday],” a Cisco statement said.”
Full article here.