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Business

Apple’s big hit at the Olympics

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Opening sequence

Business

Apple’s big hit at the Olympics

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COMING UP:Apple’s big hit at the Olympics

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Transcript

00:00:02
>> Apple isn't a sponsor of the Olympics and yet, it's stealing the spotlight in Rio. Apple making a splash with its limited edition Apple Watch bands sold only in one store near the Olympic Park. Theme colors representing the flags of 14 different countries. Get them while you can, once they're sold out, there's no more.
00:00:22
At least that's what Reuters' Liana Baker heard at the store.>> Yesterday it was crazy, I spoke to one woman from the US, who didn't wanna be named, who bought ten bands. There were people from Belgium, a Philippine swim coach. The Brazil bands were selling out, but I bought a Canadian band, a red and white one for about $100.
00:00:42
I'm not gonna open it because apparently these could become a collector's item and sell on eBay at a premium.>> Olympic top sponsors such as Rival, Samsung, and Omega reportedly pay about $100 million over four years to flash the five rings alongside their logos. But Apple has figured out how to join the party without cutting a check.
00:01:04
>> So while Apple doesn't use the Olympic rings or any Olympics' intellectual property on this merchandise, they kind of are pushing the envelope. Because the merchandise evokes the Olympics. It's a fine line of being a guerilla marketer, or finding a clever way to associate with the Olympics without paying a cent for it
00:01:25
>> Some big names here at Rio are fans, defending decathlon champion Ashton Eaton has one of these only in Rio bands. So does US sprinter, Trayvon Bromell. So it looks like Apple could win a medal for smart marketing at the Olympics.