JP Morgan retracts iPhone nano insinuations, hints at 3G flavor in 2008

Oh c'mon, it did sound too good to be true, did it not? To just about everyone's chagrin, the hope-filled comments made yesterday by Kevin Chang have now been retracted by JP Morgan, and it looks like the iPhone nano will return to the depths of our imagination for the moment. According to a rebuttal put forth by the North America Equity Research division, the firm "has not been able to independently confirm" his comments with a second source, and also mentions that "a lower-end iPhone appearing in the near-term would be unusual and highly risky." Notably, putting the rumors to rest wasn't the only order of business in the writeup, as it was suggested numerous times throughout the document that JP Morgan believes a "high-priced, non-subsidized 3G model" will surface "in the first half of 2008." Squashing one piece of scuttlebutt whilst conjuring up another (entirely more probable) report, now that's the way we like it.

[Johan S @ Jul 10th 2007 6:39PM]

"Our view is that the next iPhone will be 3G"

Wow, who would have thought that one?? How much research did they have to do? They really must have gotten Steve Jobs drunk over whisky for him to have spilled that one out.

No Sh*t. Idiots.

[Mrmean @ Jul 10th 2007 6:42PM]

having a meltdown I see...

[Johan S @ Jul 10th 2007 6:45PM]

LOL .. sorry .. I just saw how my comment reads.

[Constable Odo @ Jul 11th 2007 6:00PM]

They have college degrees (hopefully), so they can see the obvious much clearer than the rest of us.

[PynkFloydd @ Jul 10th 2007 10:15PM]

Ha Ha Ha! According to public standards...all of us comment makers are "analysts". Too bad the stock market doesn't fluctuate as much when we release our updates...

[Bob Atkinson @ Jul 10th 2007 6:46PM]

Well, I'm certainly glad they came to their senses. This ridiculous BS rumor probably cost Apple and AT&T about 100,000 iPhone sales over the past few days.

Originally, I assumed the original analysis report was just incompetence and confusing a REAL upcoming product (touch-screen iPod Nanos 8-30GB, Flash-memory based, by the Xmas shopping season, probably announced in mid-Sept) with a NON-EXISTENT product -- the 'Nano iPhone'. In my post on the original story here I mentioned a few of the many, many reasons why a nano-phone will NOT happen this year, or next year, or, as widely depicted, EVER.

NOW it occurs to me that it would be a clever strategy by a cellphone competitor to have this sort of fake rumor leaked to the iPhone-ravenous media. What better way is there to torpedo iPhone sales than by getting people to hold off for a 'fall' product that, if it EVER appears, will be a couple of years away?

Although Apple do not generally say anything on upcoming products before the official announcement, they should DEFINITELY get on top of this one to officially CRUSH this BS rumor.

Yo ... Steve ....

- BA

[coldconfession13 @ Jul 10th 2007 6:53PM]

Like I said there will be a 3g version of the iphone in december or january.

[rip @ Jul 10th 2007 7:15PM]

wow, Mr. Chang just got bitch slapped by the home office.

As to the rumor, well, duh. It would be stupid for Apple to release a low cost iPhone so quickly. I expect Apple to release a more fully featured iPhone, more ram, gps, 3g, replacing the current models, within 6-9 months. Possibly sliding the current models to lower price points, like $350-$450. Then after Apple has solidified it's market there... expect a lower cost iPhone mini in the $250-$350 range.

Look at the iPod for a clearer view of how Apple will probably fill out it's product line. The iPod mini didn't come out till fourth gen., 2.5 years after the first iPod.

[Constable Odo @ Jul 10th 2007 7:21PM]

These analysts really love to throw out big numbers based on what? If the economy tanks, hardly anyone will be buying iPhones. I swear they must use a dart board with numbers on them. They close their eyes and throw the dart and whatever number it lands closest to is the amount of iPhones sold in a given period.

[Lem @ Jul 10th 2007 7:54PM]

I love how CNN, FOX, and MSNBC are still reporting the false story about the so-called "iPhone Nano". They are so far behind!

[Jay Hash @ Jul 10th 2007 8:06PM]

Just let it be said that I called Bullshit on the original story.

I knew this was a load of bunk from the getgo. There's no way that R&D could've come that far along to be able to squeeze what apple had taken 2 years to do in a regular sized version to be able to slam it all into a mini. I mean, with all the phones needing to not be the size of PDA's anymore, don't you think they would've gone smaller in the first place if they had the capapbility? It just wouldn't work (at least not now). People need to get their facts straight. Another reason I hate rumors.

[Bolu Oladini @ Jul 10th 2007 8:11PM]

"it was suggested numerous times throughout the document that JP Morgan believes a 'high-priced, non-subsidized 3G model' will surface "in the first half of 2008."
wtf...if the regular iphone isn't high-priced, then what is lol?

[AndyM @ Jul 11th 2007 1:10AM]

Really that is a bit of non-news as Apple are launching the iPhone in Asia during 2008 presumably that includes Japan and Korea where the phone systems use versions of CDMA not GSM as in the US. So a 3G iPhone is inevitable.

[Sinbios @ Jul 10th 2007 11:32PM]

Fuck Kevin Chang, made me lose a lot of money today with that stupid rumour.

[david @ Jul 11th 2007 7:33AM]

hey, im not really sure what 3g means. is this a new thing or what? can someone explain (in a very basic way) what it is and what it does.

thanks,

david

[Brent @ Jul 11th 2007 2:39PM]

Haha, as of July 11 2pm, CNN.com is still reporting this story and not mentioning the fact that JP Morgan retracted it. Long Hail Engadget

http://www.cnn.com/2007/TECH/ptech/07/10/apple.nanophone.reut/index.html