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The smart money is now on the iPhone 4 being recalled, with Paddy Power slashing its odds from 2/1 to 4/6.
Just when things couldn't get any worse for Jobs and co, the bookies are looking to cash in on the tech giant's latest misfortune.
After ratings publication Consumer Reports refused to recommend the device, a betting frenzy took place over the last 24 hours, with punters taking advantage of Paddy Power's 2/1 offer on a recall. This has since been cut to 4/6.
If a recall is issued, this would be hugely embarrassing for Apple, not to mention expensive, with reports suggesting that such a move could cost as much as $1.5bn (£984m).
"It looks like Apple may have been a little too fast out of the traps with the iPhone 4 launch. If current betting trends are to be believed it now seems certain that a recall is on the cards," Paddy Power said in a statement.
The hype that greeted the iPhone 4's launch subsided just as quickly as numerous complaints forced Apple to admit that the device did in fact have a reception issue.
Apple admitted in an open letter that its iPhones use an incorrect algorithm to calculate how many bars of signal strength the handsets have, misleading users into thinking they have a good signal, when this might not be the case.
A software fix for this is still pending but it will not alleviate the poor reception experienced, in particular by left handed users. Apple is recommending that users shell out £25 for a bumper to cover the antennae.
The general consensus in the V3.co.uk office is that a recall is possible, but in all likelihood it seems unlikely given that the iPhone 4 has sold at record pace and not all devices are affected.
It's a good thing Apple has an annual release cycle, and V3.co.uk would be willing to bet that Steve Jobs is wishing that the iPhone 5 launch was round the corner....
14 Jul 2010
