Tim Cook is no Steve Jobs.
Although Apple’s new boss walks, talks and even dresses like his legendary predecessor in casual black garb, his big-stage debut yesterday to tout the latest iPhone failed to impress investors.
The longer Cook stood on stage, the further Apple shares fell. When the show was over, the stock was down more than 3 percent, and the reviews were mostly negative.
Part of the problem was the material. Apple unveiled the iPhone 4S — not an iPhone 5. The faster phone featuring a chip and software upgrade looks identical to the iPhone 4, disappointing Apple loyalists impatient for a major design evolution.
Worse, Cook spent much of his time touting iPods — a redesigned Nano, Touch and Classic — before getting to the main event.
It took Cook more than 50 minutes to arrive at the moment everyone had been waiting for and when it finally came, he exited the stage and handed it over to his colleagues.
Apple’s marketing boss, Phil Schiller, actually introduced the iPhone 4S.
There was a hint that yesterday’s launch would be less than spectacular, as Apple declined to stream it live online, which it usually does for big product announcements.
Part of the frustration for consumers was that Apple, which typically reveals new phones every 12 months, waited 16 months to introduce the iPhone 4S. The lag fueled expectations that something bigger was in the works.
Last week, a survey from the mobile ad firm InMobi showed that more than 50 percent of iPhone users would upgrade to an iPhone 5. Also, 52 percent of BlackBerry and 27 percent of Google Android users would switch to a full-fledged, next-generation iPhone.
But the same survey found that only 11 percent of iPhone users would upgrade to a 4S, and the numbers were similarly down for users of the competing brands.
Still, Cook did his best to trumpet the new gadget, calling it the “most amazing iPhone ever.” He also hinted that Apple fans should go easy on him.
“This is my first product launch since being named CEO — I’m sure you didn’t know that,” Cook said at the start of the event.
While the iPhone 4S doesn’t look different, Apple execs swear it is much improved inside and highlighted new features that set it apart:
* A high-powered, A5 dual-core processor, which dramatically increases the speed of the device and improves the graphics;
* A voice-command personal assistant that can be used in everything from looking up calendar events to asking for currency conversions;
* A better 8-megapixel camera.
The phone will run on all the major carriers’ networks and will be available through Sprint for the first time.
The price of the entry-level 4S stays the same as for all new Apple phones: $199 with a two-year carrier contract. Older models will be discounted: the iPhone 4 will sell for $99, and the 3GS will be free. The iPhone 4S will be available for pre-order Friday and hits stores Oct. 14.