iPhones Coming To Dallas, New York RadioShack Stores

By Scott Campbell, CRN
November 09, 2009 11:55 AM ET

So far, a search for "iPhone" on RadioShack's Web site turns up anything but Apple's uber-famous mobile device. But that will likely change shortly.

RadioShack plans to introduce the iPhone 3G and iPhone 3G S to a limited number of stores in the Dallas and New York markets beginning later this month, according a brief release on the company's Web site posted Nov. 6. Apple iPhones will be available nationwide through RadioShack in 2010, according to the retailer.

It's unknown when buyers might be able to buy an iPhone online through RadioShack's Web site. A search for "iPhone" on RadioShack.com only turns up iPhone competitors such as the Palm Pre with WebOS, HTC Tilt 2 with Windows Mobile 6.5 and T-Mobile's myTouch 3G with Google's Android OS.

RadioShack's shares were trading Monday morning as high as $20.57, a 52-week high and up $2.83 or 16 percent, after the iPhone news spread. Credit Suisse raised its rating on RadioShack to Outperform from Neutral, while Barclays Capital, Goldman Sachs and Morgan Stanley also thought the deal would help the company financially.

Last month, RadioShack announced earnings of $37.4 million, or 30 cents per share, on sales of $990 million for the third quarter ended Sept. 30. The results compared to earnings of $49.1 million, or 38 cents per share, on sales of $1.02 billion for the year-ago quarter.

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