The laws of demand and supply are finally catching up with iPod Classic, which Apple Inc. (NASDAQ:AAPL) opted to discontinue in October in the wake of a slow but steady drop in sales. Three months down the line, demand for the once classy music player has risen much to the surprise of Apple as people rush to get a hold of it before they sell out.
Apple Inc. (NASDAQ:AAPL) was forced to discontinue iPod classic as people began to favor iPod Touch due to its touch-screen interface as well as the rampant growth in the usage of phones and cloud service for listening and storing music. The upsurge in demand for iPod Touch has been attributed to the gadgets ability to allow users store thousands of songs without having to sign up for any online services.
People are essentially becoming leaner in terms of spending, thus always ready to jump to any opportunity at hand that can accord the same services without incurring additional costs. The increase in prices follows on Music experts early last year advising people to get hold of an iPod Classic before it was discontinued.
The latest version of the iPod classic with a storage capacity of 160GB is going on sale on eBay Inc. (NASDAQ:EBAY) store for £550 awaiting to see how high the prices can rise heading into the Christmas shopping spree. Apple Inc. (NASDAQ:AAPL) unveiled the first iPod Classic in 2002 with storage capacity being upgraded to 160GB with the 6th generation that was produced in 2007. Slimmer and advanced models were later on unveiled in 2005 with iPod Touch that looked to tap into the touch screen space in 2007.
Apple Inc. (NASDAQ:AAPL)’s CEO, Tim Cook, has already reiterated that it is highly unlikely that the Cupertino-based company will revisit the model after discontinuing it. Cook affirms that Apple opted to discontinue iPod Classic because it lacked access to the components while an entire redesign would not have been viable on a decline in demand.