Apple delayed the release of its new Macintosh system software 2007-04-13
Apple delayed the release of its new Macintosh system software after shifting engineering resources to ensure the iPhone makes its debut in June.
Company stock fell 2.6 percent in late trading after Apple said Leopard, an update to the Mac operating-system software, will be pushed back to October instead of June. The iPhone handset will ship in late June in the U.S., Apple said Thursday.
"iPhone contains the most sophisticated software ever shipped on a mobile device, and finishing it on time has not come without a price," Apple said in the statement. "Life often presents tradeoffs, and in this case, we're sure we've made the right ones."
Chief Executive Officer Steve Jobs unveiled the iPhone in January, showing off a device that combines the best-selling iPod music and video player with a mobile phone that offers Internet and e-mail access. Apple developed new software to drive the device's touch screen.
Jobs expects to sell 10 million iPhones in 2008 and to capture a 1 percent share of the mobile-phone market.
"They had to make a choice," said Jonathan Hoopes at ThinkEquity Partners in New York. "They made the right choice." Hoopes has a "buy" rating on the shares and doesn't own any.
Shares of Apple fell $2.44 to $89.75 in extended trading. They earlier dropped 40 cents to $92.19 and have gained 8.7 percent this year.
Apple plans to release two versions of the iPhone, a $499 model with 4 gigabytes of memory and a $599, 8-gigabyte model. The device will be released in Europe later this year and in Asia next year, the company
