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Apple Introduces Highly Anticipated iPhone

On Tuesday, Apple Inc. CEO Steve Jobs unveiled the company's latest product, the much-anticipated iPhone, at the annual MacWorld conference in San Francisco. A business journalist talks about smartphone technology and Apple's future as a whole.

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  • STEVE JOBS, CEO, Apple, Inc.:

    The second is a revolutionary mobile phone.

  • JEFFREY BROWN:

    Once again, Apple is in the news, this time with its long-awaited jump into the mobile phone business yesterday at the annual MacWorld in San Francisco. Steve Jobs, a founding father of Apple, introduced his latest technological baby.

  • STEVE JOBS:

    An iPod, a phone. Are you getting it?

  • JEFFREY BROWN:

    The iPhone, which starts at a pricey $499, is controlled by touch. It plays music, surfs the Internet, and runs the Macintosh computer operating system.

  • STEVE JOBS:

    What we want to do is make a leapfrog product that is way smarter than any mobile device has ever been and super easy to use.

  • JEFFREY BROWN:

    Apple also announced that Apple TV would be available next month. It would allow users to view Internet video content on their televisions.

    Signaling its increasing focus on consumer electronics, the company also renamed itself yesterday, from Apple Computer to Apple, Inc.

    But while Apple wants to focus on its future, the company's past has also been in the news in recent weeks, after revelations about so-called backdating of stock options, intended to boost executive compensation. An internal investigation at the company found "no evidence of misconduct by current management," but a spokesman said the company is responding to inquiries from regulators.

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