Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Best Buy to Sell Secondhand iPhones

By

Brief scrutiny of today's headlines.

PrintPRINT
Wanna buy a used iPhone? Best Buy has 'em.

Best Buy (BBY) believes the refurbished Apple (AAPL) iPhone will appeal to cost-conscious users during the economic downturn. The retailer now sells used versions of the iPhone 3G for about $50 less than new devices, Reuters reports.

This raises a basic question: Is the gizmo a status symbol, or merely a communication device?

Those who see the iPhone as a status symbol probably would recoil from a used model; those who see it as just a tool (and are pinched financially) would almost certainly welcome a refurbished device.

But it's hard to imagine a bifurcated market among Apple's true believers. The news comes just a day after the device was hacked by an outfit calling itself the iPhone Dev Team - which could mean lost revenue for Apple.

Best Buy says the used phones, returned with 30 days of purchase, sell for $149 for the 8-gigabyte model and $249 for the 16-gigabyte version. Buyers must sign a 2-year service contract with AT&T (T).

Best Buy sells new models of the phone for $199 and $299.

Lower prices are good news for consumers, but will those who fondle and adore their Apple gizmos bite? And what happens to the delicate mental state of Apple aficionados if members of The Great Unwashed start carrying the object of their desire?
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE