News

What'll Save Radio Shack? The iPhone, Duh.

On Friday, Radio Shack issued this terse press release: "As part of its ongoing mobility strategy, RadioShack is pleased to announce that it will introduce Apple's iPhone 3G and iPhone 3GS in a limited number of company-owned stores in the Dallas-Fort Worth and New York City metropolitan areas beginning later this month. RadioShack expects to introduce iPhone in stores nationwide in 2010. For more information about exact store locations and product availability, visit www.radioshack.com." And that was that, till this morning: Bloomberg News has been keeping an eye on the Fort Worth-based Shack's stock, which has been going up and up and up "to its highest level in two years in U.S. trading after announcing plans to start selling Apple Inc.'s iPhones in the U.S. next year." Makes this summertime stunt seem even more useless in retrospect.

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Robert Wilonsky
Contact: Robert Wilonsky