Prudential analyst, Jesse Tortora met last week in Cupertino with Apple CFO Peter Oppenheimer, Sr. VP of Retail, Ron Johnson and Sr, Director of Mac Product Marketing, Tom Bogart.
“Apple said that the iPhone will be sold exclusively through its own stores, its website, and Cingular stores,” Tortora wrote. “Management expects the majority of the iPhone sales to occur in Apple stores, given that consumers will likely look to Apple to demonstrate the device’s features.”
At the meeting Apple told Tortora that once the iPhone meets the product mix then the company expects to achieve similar per-store sales as Best Buy, even though it has one-tenth the retail floor space. This figure is estimated to be around $30 million per store, $5 billion for the retail segment over a fiscal year.
Apple also noted that it “doesn’t expect to broadly proliferate into any new categories for a while,” but will instead focus on its existing line-up of Macs, iPods the iPhone and Apple TV.
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