Summit News

AT&T CFO: No pricing yet for next iPhone

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NEW YORK (Reuters) - AT&T Inc T.N has yet to determine pricing for a hotly anticipated new version of Apple Inc's AAPL.O media-playing iPhone, ATT's chief financial officer said on Thursday.

“There’s not been a product announcement. There hasn’t been any pricing decisions made. That’s yet to come,” CFO Rick Lindner told the Reuters Global Technology, Media and Telecoms Summit in New York.

AT&T, the exclusive U.S. carrier of the iPhone, has said it expects a next-generation iPhone that runs on faster, 3G networks, in the coming months.

Lindner said AT&T, the No. 1 U.S. telecommunications company, has more than 2.5 million iPhone customers, with the average subscriber spending nearly $100 a month on services after shelling out as much as $500 for the phone itself.

He noted customer spending rates on services were similar to the BlackBerry Curve model from Research In Motion Ltd RIM.TO, which now sells at a promotional rate of $99 per device.

“It comes down to economics, how many units you think you can sell at different price points,” Lindner said, in reference to how the company makes decisions on subsidizing the price of a phone. “That’s how pricing is determined on just about any device.”

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Reporting by Sinead Carew and Michele Gershberg