How iPhone will hit rivals

Mail to friend Price cuts to combat the new iPhone have already begun. Samsung's Instinct, sold by Sprint Nextel Corp, will go for $130 with a rebate and a two-year contract later this month, down from earlier expectations of above $200. LG's Voyager, sold through Verizon Communications Inc, was offered at $199 this month, after being launched at $400, and then later reduced to $299 with a two-year contract. CJ Investment & Securities analyst Kim Ik-sang said he has cut his handset shipment and operating profit margin forecasts for LG this year by 4 percentage points. "Before the new iPhone, I expected LG to sell 121.68 million phones -- now my forecast is 116.8 million units. LG's North American market share will also take a hit," he said, cutting his 2008 US market share forecast to 18 per cent from 20 per cent.