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Apple expect to sell 10 million iPhones in 2008

on 24-01-2008

On Tuesday, Apple announced it increased its revenues year-on-year by 35%, in part thanks to sales of iPhones and Macs. Unfortunately, due to disappointing forecasts of iPod sales, Apple's stock price plunged amid extremely volatile market conditions.

At first glance you might have expected investors to react well to Apple's results given the success of the iPhone, but it seems that disappointing iPod sales, fears of a worldwide recession and very volatile stock market conditions led to a big drop in its share price (wiping out over $17bn in market capitalisation the following day).

It seems that Apple are hoping that the iPhone will continue selling like hot-cakes, launching in Asia and other European countries during 2008, with a target of 10 million sales for the year. However, Tim Cook, Apple's COO, didn't give away any details of plans to introduce 3G in the iPhone.

Read the full story on FT.com, as well as InfoWorld.com.

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