updated 02:25 am EDT, Fri October 17, 2003
Apple said it doesn't have any illusions that it can make great profits from selling songs over the Internet: "Instead, Apple is counting on the store as a for the company that can produce substantial profits--mainly through sales of its iPod digital music player. 'The iPod makes money. The iTunes Music Store doesn't,' Apple Senior VP Phil Schiller told CNET News.com...Schiller said the music store is close to profitability but is still losing money. Apple doesn't see the business as having much long-term profit potential either."