How Well will the iPhone Sell in South Korea?

A report by the Japanese investment bank, Nomura, is now suggesting that Korea Telecom could sell more than 700,000 units of the Apple iPhone next year, on the assumption that 10 percent of KT's new subscriptions are driven by iPhone demand. It seems that this prediction is based on the lively reception of the iPhone thusfar. I stand by the predictions I made in an earlier post, that the iPhone will sell millions over the next year ( I should clarify that to say 1-2 million iPhones). The Nomura estimate fails to take into account the rapidity with which mobile communications worldwide are becoming internet and cloud-computing capable. Nor, I think, does it account for the power of old fashioned word-of-mount communication in Korea, that is leading to a possible Apple iPhone mania here.