Verizon iPhone off to a slow start
Lines weren't huge for the debut, and BlackBerry trade-ins seemed to be a leading trend.
By Scott Moritz, TheStreet
At the Verizon store in Fishkill, N.Y., there were 12 customers lined up at 6:45 a.m. ET, where nearly twice as many Verizon employees were on hand to accommodate sales. One employee carried a bullhorn but didn't have much of an opportunity to use it. Other employees handed out cold-weather kits that included ski hats and hand warmers.
In lower Manhattan, at the Verizon store on the corner of Water and Wall streets, 21 people were waiting to buy the iPhone. Based on interviews with those soon-to-be iPhone owners, roughly half were trading in RIM BlackBerries. Most had the BlackBerry Storm.
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While it was a small sampling, there were some interesting patterns. Three people at the Wall Street store said they were coming to Verizon from AT&T (T) and one from Sprint (S). Curiously, five people -- or a quarter of the sample -- said they were breaking their current two-year contracts to get the Verizon iPhone.
The long-anticipated Verizon iPhone has been a captivating topic for tech investors looking for another leg in the Apple growth race.
Where there are winners, there also appear to be losers. RIM's stronghold on the business-user segment and its expansion into the general consumer market seem to be the most vulnerable to the Verizon iPhone.
Apple shares were up 0.6% to $358.40, RIM was up 0.13% to $63.65 and Verizon was down slightly at $36.48 in morning trading Thursday.
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Wall Street is getting more selective and demanding profits from this hyped-up sector.
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