Is the INQ1 gonna whack the iPhone? I was going to write a lengthy post about this new phone and all the sudden, I found myself thinking “why would you waste your time on something that’s doomed to fail?”.

So I’m not going to tell you anything about the new INQ1, but instead, I will direct you to this Business Week article for you to read. Here is a sneak peek

Frank Meehan isn’t even officially in the cell-phone business yet. But already he has plans to shake it up.

Meehan is a top executive at Hutchison Whampoa (HUWHY), the Hong Kong conglomerate that operates ports, retail stores, and wireless-service providers around the world. On Oct. 13 he plans to unveil a new Hutchison subsidiary, INQ, that will make cell phones in competition with Nokia (NOK), Motorola (MOT), and Apple, among others (AAPL). Hutchison wants to slash the price of phones that let people surf the Net and tap social networking sites. The goal is to get more people to use the phones—and let companies such as Hutchison profit from selling Net services. “We’re tired of paying a fortune for phones that are unusable,” says Meehan.

The INQ1 has no chance to survive in this wild market. Meehan says he needs to hit 90% of people who don’t buy a higher price phone so he can make money. That is a very conservative number…. NOT! Come on, don’t you have anything else to do with your money? Buy Apple stocks, they need it…