NEW YORK (CNNfn) - It's not the New Coke, but it may be the Smart Coke. Soft-drink giant Coca-Cola Co. is working on a vending machine that automatically raises the price of a soda whenever the weather grows hot, the Financial Times newspaper reported on Thursday.
The newspaper picked up details of the machine in an interview with Coke (KO) chairman Doug Ivester published in the Brazilian magazine Veja.
Ivester said the machine was designed to reconcile supply and demand by raising the price when demand increased.
"Coca-Cola is a product whose utility varies from moment to moment," he was quoted as saying.
The machine has been tested in Japan and the company is still evaluating the technology, Ivester said.
Atlanta-based Coca-Cola said none of the new machines were in use, but that it was evaluating the technology.
-- from staff and wire reports