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Monday Apple Rumors — iPhone 5 Was Real, but Ditched

Report: Plans for iPhone 5 were canceled this summer


daily apple rumors AAPLHere are your Apple rumors and AAPL stock news items for Monday:

iPhone 5 Scrapped Months Before iPhone 4S Release: Wall Street and consumers alike were shocked at the beginning of October when Apple (NASDAQ:AAPL) announced the new iPhone 4S. They were expecting a new iPhone, not an incremental upgrade over 2010’s model. They were expecting the iPhone 5, a redesigned model that changed more than the device’s speed. While rumors suggest that an iPhone 5 is coming in 2012, a Friday Business Insider report said that Apple did indeed have an iPhone 5 to reveal early this year, but plans were canceled in the summer. An anonymous industry source trusted by Business Insider said he actually used a prototype of the scrapped iPhone 5 earlier this year. The device reportedly had a larger screen than the current iPhone and had an aluminum back like the iPad. The device also was thinner than the current model. The prototype also used the new Siri voice-operated app, but it was simply called “Assistant” in the earlier model. It’s unclear why Apple canceled this model, but the rumor among Apple employees was that Steve Jobs disliked that the larger screen would partition the iPhone user base, according to the report.

Samsung Drops Attempt to Block iPhone 4S in Korea: A Monday report at 9 to 5 Mac said that Samsung (PINK:SSNLF) has eased off its legal barrage against Apple. The company was expected to file an injunction against the company in Korea to block the iPhone 4S from sale when it released in that country on Friday. Samsung has filed such injunctions in Japan, France, Australia and Italy, but the company decided to forego the injunction in Korea after debating whether to impose it “until the last moment.” Whether this means that the hostilities between Apple and Samsung will start to relax remains to be seen.

Google TV Loses Logitech: Right as news of Apple’s entrance into the TV-making business reached a fever pitch, Google (NASDAQ:GOOG) released a massive update for its Google TV service on Nov. 1. The update sought to address many of the criticisms leveled against the Google TV service when it released in 2010. Press reaction to the update was largely positive, but Google has run into a stumbling block. Logitech (NASDAQ:LOGI), one of just two companies that make devices using Google TV, has dropped the platform. According to a Thursday report at The Verge (via TUAW), Logitech CEO Geurrino De Luca said supporting Google TV with the Revue set-top box was a “big mistake” that “cost us dearly.” How dearly? According to the report, more than $100 million in operating profits. Brutal.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.

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