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Will Unlocked iPhones Hurt AT&T?
In 2007, AT&T (T) and Apple (AAPL) entered into a contract that was, at its inception, mutually beneficial: Apple would be able to sell all the iPhones it wanted, and AT&T, the official service provider for the iPhone, would get millions of requisite two-year contracts. The problem AT&T is encountering, however, is one that neither company took into serious consideration: there are hackers out there "unlocking" iPhones and utilizing their current service provider instead of AT&T. In this situation, Apple is relatively unscathed: They are still selling handsets. As it turns out, however, this unlocking of phones is starting to factor into market predictions for both corporate giants. For instance, when projecting what first quarter revenue in 2008, the equation has changed: Apple sold 2.3 million iPhones, but AT&T only activated .9 million of them. They now have to take into account these hackers and how many will activate phones through another provider.
AT&T certainly has some number crunching to do in the New Year.
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