Here are your Apple rumors and AAPL news items for today:
Market Outlook: When Apple (AAPL) finally launches its much-anticipated smartwatch, the iPhone-maker could generate up to $2.5 billion in revenue from the device during its first year, USA TODAY notes. That forecast comes from Gene Munster, an analyst at Piper Jaffray, who estimates that Apple will sell between 5 million and 10 million iWatches during the first twelve months they are available to consumers. He expects to company to derive a first year profit of more than $750 million in the product. Munster bases his prediction on a survey he conducted among 799 U.S. consumers regarding the purchase of an iWatch, priced at $350, that connected wirelessly with an iPhone. While most of the respondents said they were not interested in the product, 12% of iPhone owners indicated that they would buy an iWatch. Munster estimates that between 2% and 4% of iPhone owners worldwide might actually purchase an iWatch when and if it is actually released. Apple has been rumored to have assembled a team of 100 designers and technicians for the iWatch, but is not expected to launch the device until next year.
Expanding: Listeners in a number of new countries will get to hear Apple’s new iTunes Radio starting early next year, Bloomberg notes. Apple launched the online radio service last month in the U.S. only. The company plans to launch the service in the United Kingdom, Australia, New Zealand and Canada in early 2014. Rival Internet radio service Pandora (P) already operates in Australia and New Zealand, but iTunes Radio will beat it to the Canadian and U.K. market. Apple has negotiated international music rights deals with a number of record labels, permitting the service to launch in certain overseas markets. Last month, Apple said that iTunes Radio had garnered 11 million listeners during the first five days after it debuted.
No Relief: The Obama Administration will not intercede with the International Trade Commission (ITC) on Samsung’s behalf, AppleInsider notes. The White House said on Tuesday that it will not stop a ban on the importation of some Samsung mobile devices into the U.S. The ITC has issued an import ban on a limited number of older Samsung products, which have been found to infringe on patents held by Apple. In August, the Obama Administration blocked an ITC ruling that would have halted U.S. sales of the iPhone 4 due to violations of Samsung patents.
For more about the company, check out our previous Apple Rumors stories.