Apple's iPhone Rings a Lot of Bells

The new phone will surely challenge rival handset makers: It also has the potential to change a host of other consumer devices

I have on my desk a two-inch-thick stack of printed research reports, all of them full of comments from industry and financial analysts on the implications of the iPhone. Best I can tell, virtually none of them seem to grasp the full implications of what Apple and its chief executive Steve Jobs did on Jan. 9.

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