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I think the iPod's success was a combination of a slick interface, a large capacity and a small size with all of the same or even more features than its competition. Compared to the rest of the market, the iPhone's only got slick interface covered.
I'm not saying at all that it's not going to be a massive success, but I don't think it's got the same stroke of genius that the iPod did and won't achieve the same level of success.
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