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Apple 'Not Wedded' To Current iPhone Sales Model - COO Cook
Dow Jones Newswires - February 27, 2008 6:10 PM ET
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By Ben Charny
Of DOW JONES NEWSWIRES
SAN FRANCISCO (Dow Jones)--Apple Inc. (AAPL) is open to exploring new ways of selling its iPhone, Apple Chief Operating Officer Tim Cook said Wednesday.
He also made bullish comments about the impact of any economic headwinds, and hinted of a bigger iPhone development to come later this month.
Shares of Apple stock were trading up $4.35, or 3.5%, to $127.31 after-hours.
Apple thus far has sold its iPhone, a combination of phone and media player, by giving individual carriers the exclusive rights to sell it in their home country. The strategy has been criticized for limiting the iPhone's potential sales, and leaving potential business on the table. At last report, Apple's sold 4 million iPhones.
"Apple is not married to the single, exclusive-carrier model," Cook said from the stage of a Goldman Sachs investor conference in Las Vegas.
As to any impact by the slowing U.S. economy on Apple, Cook pointed to Apple's healthy revenue and Macintosh computer share growth of late. "I'm not saying that Apple is immune to economic factors," he said.
Cook also hinted that on March 6, Apple will release tools that programmers can use to create downloadable iPhone software, which Apple can then sell through its iTunes stores. The tools were due by the end of February.
Cook said the software developer kit will "make the iPhone even more compelling." Apple on Wednesday began circulating invitations to a March 6 event to discuss the iPhone software roadmap.
-By Ben Charny; Dow Jones Newswires; 415-765-8230; ben.charny@dowjones.com
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