June 29, 2012
Steve Jobs unveiled the iPhone on January 9, 2007 and it was available for purchase five months later.
What Did the Experts Say?
Microsoft CEO Steve Ballmer: “There’s ‘no chance’ the iPhone will get a significant share of the market. ‘No chance.’ ”
Bloomberg Business: “The iPhone’s impact will be minimal and appeal only to ‘a few gadget freaks.’ ”
PC Magazine: “The iPhone is deeply flawed. Apple will sell lots at first and then sales will plummet.”
Marketwatch: “The ‘one phone fits all’ concept is ridiculous. Apple needs to roll out many variations, or the iPhone will immediately become passé.”
Wedbush Morgan Securities: “The iPhone won’t affect the handheld gaming industry.”
Capital Group: “The Motorola RAZR is a great phone at a great price (free). There’s no way the overpriced iPhone can compete with it.”
Leo LaPorte, TWIT Network: “This isn’t a business Apple should be in.”
BusinessWeek: “The iPhone will never be a threat to the BlackBerry.”
RIM CEO Jim Balsillie: “The iPhone’s impact on our business will be minimal.”
Quotes from Business Insider.
FIVE YEARS (and $150 billion in revenue) LATER
Apple’s iPhone business is bigger than all of Microsoft.
Dell and HP are reeling.
Palm, Nokia and RIM are toast (RIM’s stock price is down 89%).
Apple’s stock price has almost quintupled.
Apple has created hundred’s of thousands of jobs for App developers.
The lesson? Opinions and predictions are worthless. Try and remember that, OK?