USA: Apple announces plans to rent movies over the Web and unveils a lightweight slim-line laptop

Record ID: 641513

  • Title: USA: Apple announces plans to rent movies over the Web and unveils a lightweight slim-line laptop
  • Date: 24th January 2008
  • Summary: LONDON, ENGLAND, UNITED KINGDOM (FILE) (REUTERS) VARIOUS INTERIORS OF AN APPLE STORE MAN USING APPLE COMPUTER
  • Embargoed: 8th February 2008 12:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: Entertainment
  • Reuters ID: LVA2XJ7V1DRG0BS72PA5KPIIBAEW
  • Story Text: Apple Inc unveiled a lightweight laptop about three-quarters of an inch thick on Tuesday (January 15) and said it would rent movies over the Internet, moving the iPod and iPhone maker into a very competitive market.
    Shares of DVD rental rival Netflix Il 2.5 percent to 22.20 U.S. dollars and Blockbuster Inc the largest video rental chain, dropped 16 percent to
    72 (USD).
    But Apple shares also fell, by more than 6 percent to 167.64 (USD) in afternoon trading, as investors had expected both developments after widespread speculation.

    "There wasn't the 'wow' factor from anything that Apple had to say today," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles.
    Chief Executive Steve Jobs made the announcements at the annual Macworld convention in San Francisco, where last year he showed off the highly anticipated iPhone for the first time, setting a high bar for this year's event.

    "Here's the deal. We're going to launch with over 1000 films by the end of February. A thousand films by the end of February and we're going to have films from the studios 30 days after their DVD release. You can watch them anywhere. you can watch them on your Macs, watch them on your PCs. Watch them on all current generation iPods. Watch them on your iPhone. You can watch them instantly when you say rent, "said Jobs.
    Apple shares have nearly doubled since last year's Macworld, and in late December topped 200 (USD) for the first time.
    Jobs said the new aluminum-skinned Macbook Air notebook was the thinnest computer available, at a maximum of 0.76 inches and tapering to just 0.16 inches.
    Priced from about 1,800 (USD), the Macbook Air bridges the gap between Apple's entry-level and high-end laptops, and analysts voiced concern that it could steal customers away from its more expensive products.
    With Web movie rentals, Apple takes on DVD-by-mail rental service Netflix, which also allows online viewing, as well as a host of others eager to make it possible to watch movies easily and instantly over the Web.
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