A JPMorgan analyst said Tuesday he expects Apple Inc. to launch another phone this year, just weeks after the company rolled out its highly-anticipated iPhone device.
Based on a patent filed by Apple, JPMorgan’s Kevin Chang said he expects Apple to launch a phone in the 2007 fourth quarter, which may be an iPod Nano phone. Chang said the patent filing has figures demonstrating how to dial a phone number with a scroll wheel.
“Putting all the information together, we believe there’s a strong sign that Apple will come out with a second phone that will replace iPod Nano,” Chang wrote in a client note. “IPod Nano will be converted into a phone because it’s probably the only way for Apple to launch a lower end phone without severely cannibalizing iPod Nano.”
Last month, amid much frenzy, Apple’s iPhone went on sale in the U.S. The gadget combines the functions of a cell phone, iPod and wireless Web browser.
Shares of Apple ticked lower in premarket trading, giving up 97 cents to $129.36 after ending at $130.33 in regular trading Monday.