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New iPods fail to impress investors

10 Sep 2008

With all the hype preceding its invitation-only media event on Tuesday, Apple needed to come up with a bigger wow factor than it delivered if it wanted to please investors. Steve Jobs seemed happy enough, though. In addition to presenting the company's new toys, he crowed about astronomical sales at the App Store and joked about Bloomberg's accidental publication of his obituary.

Apple CEO Steve Jobs took the wraps off a revamped line of iPods on Tuesday and trumpeted a truce with NBC Universal that means the TV network will begin selling programs again on iTunes.

The iPod announcements were largely expected, and investors were less than energized, sending Apple's shares down US$6.13, 3.9%, to $151.79 in afternoon trading.

The iPod upgrades Jobs revealed Tuesday in a theater in San Francisco include two slick new nano models, oval-shaped devices that Jobs said are the thinnest iPods Apple has ever made. They are less than a quarter-inch thick.

A $149 version comes with 8 gigabytes of memory - enough for 2,000 songs; a 16-gigabyte version, which holds 4,000 songs, is $199.

Read the full article here.