High School Students are ready to buy iPhone for $500

In PiperJaffray’s 13th bi-annual teen survey, “25 percent of students said they’d be willing to buy one at the previously announced $500 entry point.”Still, Munster said he’s modeling for the Cupertino-based electronics maker to sell just 660,000 iPhones during the 2007 fiscal year ending September and just another 4 million in the proceeding 12 months.

“We expect increasingly widespread adoption of the iPhone in more price-sensitive markets after the price gradually comes down,” he wrote. “Even if 20 percent of those students (or 5 percent overall) actually enter the market at $500, our estimate may prove to be conservative.”

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Source : techblog