BP was late to respond, and now its shares are 40% down.
APPLE was late to respond to complains about the new iPhone 4 and now its shares are going down…
Here I am: being a fan of these two brilliant brands (I have been a longtime subscriber of CR and I am now a Which? one, that is the CR version in the UK), I am confronted like many people with this dilemma: who is right, who is wrong?
Well,I don’t ant doubt.
APPLE is wrong.
So, Steve Jobs, you better react quickly with a massive recall or you and your investors will suffer bigger losses.
This time, believe me, arrogance will cost APPLE a lot of money.
Don’t underestimate the power of Consumer Reports.
Independent consumer journalism rules!
As Barron’s Erik Savitz writes in his blog:
Keep in mind that what was so damaging about the review was not just the fact that Consumer Reports won’t recommend the phone, but that they also took Apple to task for apparently not being fully forthcoming about the issue. The magazine wrote that its findings “call into question the recent claim by Apple that the iPhone 4’s signal-strength issues were largely an optical illusion caused by faulty software.”
My take: expect a radial response from APPLE in less than 48 hours.
Tags: Apple, Consumer Reports, Stebe Jobs, Which?, iPhone 4, recall