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Apple stock falls on mobile music fears | |
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| Time: 13:25 EST/18:25 GMT | News Source: Macworld UK | Posted By: Erick Cordero | ||
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Fears that MP3 enabled mobile phones will steal market share from the iPod, and a competitor's concerns about reduced demand for digital music devices, caused Apple's share price to fall last night. Apple's share price fell last night after Creative cut its sales outlook. Creative's concerns follow reports of expected competition from mobile phones with MP3 players. The report from Informa Telecoms and Media recently predictd that by 2010, mobile music will be worth $11.3bn, with nearly $6.8bn worth of realtones - mobile phone ringtones that sound like a real song rather than digitised music - sold by the end of the decade. This report, coupled with a Barron newspaper report that concluded that as more mobile phone companies add the capability of downloading and playing music, sales of the popular iPod digital media device will slow, caused Apple's share price to fall. | ||
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