Scalper1 News
Just days after Apple was blamed for single-handedly destroying Nokia’s phone business and hurting Finland’s economy, it’s taking the rap for killing the Japanese consumer electronics industry. And look out, fitness bands and traditional watches, you’re next on Apple’s hit list. On Oct. 13, Finland’s prime minister suggested that Apple (AAPL) could be to blame for the demise of its two biggest industries, cellphones and paper, which in turn led to an economic downturn and a ratings downgrade for the Nordic country. “We have two champions which went down,” Alexander Stubb told CNBC . “A little bit paradoxically, I guess, one could say that the iPhone killed Nokia (NOK), and the iPad killed the Finnish paper industry, but we’ll make a comeback.” On Friday, UBS analyst Steven Milunovich said that Apple had the same impact on Japan’s consumer electronics business… Scalper1 News
Scalper1 News