Interesting Quote From Nokia Executive Regarding iPhone

Asked about the iPhone during an interview with McKinsey Quarterly (registration required, but it’s free), Nokia’s Keith Pardy said:

The iPhone will definitely shake up the North American market; $500 to $600 per device will help establish a new pricing paradigm. Consumers will now start to equate price with the physical handset. That’s good. I personally think the iPhone will be very good for the industry because competition is good and always stimulates new ideas. But we should also remember the scale of the ambition Apple has set itself: they are talking about getting one share point of a billion devices per year. Nokia is focused on winning 40 percent of this market.”

This strikes me as honest and savvy. Just keep in mind, though, that the top one percent of the market is very, very profitable.

(Thanks to Henning Grote.)

★ Thursday, 10 May 2007