Communications Chief Financial Officer Fran Shammo said Apple Inc’s iPhone 5C “undersold expectations” which is shorthand for sold like a freshly steamed turd. People wanted to buy Apple’s iPhone 5S but for some reason Apple did not supply enough of them into the shops.
Shammo told Reuters after the company reported its third-quarter earnings that other telephone companies were reporting the same thing.
Shammo said scarcity of the iPhone 5S was a significant problem for Verizon Wireless, which missed Wall Street’s third-quarter expectations because of it.
The fact that iPhone 5S customers were still waiting to receive their phones would be reflected in its numbers in the fourth quarter.
Shammo did not say how much of an overall effect the shortage of the iPhone 5S had on the company’s third-quarter figures, but he appeared somewhat cross.
About half of Verizon’s smartphone activations are for iPhone customers, so if Apple sneezes, Verizon is sent to bed with the snuffles. In this case Apple’s gameplay seemed to have given the outfit a note from its mother and a week living off Chicken soup and Night Nurse.
What gets Shammo cross is that he didn’t know how many customers would have come that didn’t because they knew there was a shortage.