Telstra Corp., Australia's biggest phone company, will likely benefit the most from
Apple Inc.'s new
iPhone in the country even if the Australian carrier fails to sell the handset,
Merrill Lynch & Co. said, reports
Bloomberg News.
The iPhone will fuel interest in wireless data services such as Web surfing and music downloads, helping Telstra generate sales from its latest ``Next G'' network, Merrill Lynch strategists Stephen Myers and David Kaynes wrote in a note today.
``Despite the fact that it is yet to make an announcement on whether it will sell the
iPhone at all, we expect Telstra to be the primary beneficiary,'' the two Melbourne-based analysts said. ``The
iPhone should provide a much-needed catalyst to prompt recent Next G converts to explore the capabilities of their new handsets.''
Apple ceo Steve Jobs this week unveiled the cheaper and faster version of the iPhone, prompting analysts to renew calls for investors to buy the stock. In Australia, the iPhone will boost usage and revenue for all operators, the strategists wrote, including Singapore Telecommunications Ltd.' Optus Networks Pty, Vodafone Group Plc's Australian unit, and Hutchison Telecommunications (Australia) Ltd.
