Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Apple delays new operating system
BackBack

Apple delays new operating system

Apple delays new operating system

Premium

San Francisco: Apple Inc. said on 12 April it is delaying the release of its new computer operating system, sending its shares down 3%.

The company said its eagerly anticipated iPhone is on schedule to ship in late June as planned after passing several of its required certification tests.

But it said delivering the phone on time contributed to the delay of the next version of its OS X operating system, code-named Leopard, until October because the company said it had to divert resources to the iPhone.

“iPhone contains the most sophisticated software ever shipped on a mobile device, and finishing it on time has not come without a price -- we had to borrow some key software engineering and ... resources," Apple said.

Tim Bajarin, an analyst with Creative Strategies in San Jose, California, said the delay in Leopard could slow the pop in sales that normally comes from die-hard Apple computer fans, who will now likely wait to buy new computers.

“I actually think the effect is going to be somewhat negligible," Bajarin said.

Leopard is expected to boast new features including a file back-up feature called “Time Machine" and improvements to its e-mail and instant messaging software. Another feature allows users to move from their standard desktop view to an archival view showing every change made to a particular file.

Apple said Leopard’s features would be complete in early June ahead of its worldwide developers conference but that the product would not be ready for release. Instead, the company said it plans to give developers a test copy and ship Leopard in October.

The delay follows Apple’s January debut of its much-anticipated take on the smart phone, combining a phone, an iPod and instant messaging in a sleek device with a large screen.

Analysts have said the iPhone is a potentially huge source of growth as Apple seeks new revenue streams and ways to build on its 70 percent-plus U.S. market share for digital music players.

Apple shares fell nearly 3 percent in extended trade to $89.51 from a Nasdaq close of $92.19.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Apr 2007, 10:36 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App