Apple iPhone 5 Smartphone Sale crossed 5 million
(Monday, September 24, 2012) – Apple said Monday sales of its new iPhone 5 topped five million in the launch weekend, a figure which disappointed analysts and pressured the company’s share price.
“Demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible,” said Tim Cook, Apple’s chief executive.
Apple opened sales Friday of the latest version of the iconic smartphone, leading to long queues in the nine launch countries. The phone will be available in 22 more countries by the end of the week and 100 countries by year-end.
Cook said that “while we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date.
“We appreciate everyone’s patience and are working hard to build enough iPhone 5s for everyone,” he said in a statement.
Apple said that the new mobile operating system iOS 6, had been downloaded for “more than 100 million iOS devices” since it was launched last week.
Analysts expect record-breaking sales of the iPhone 5, which is lighter, slimmer and more powerful than its predecessors, even though the phone has drawn only lukewarm reviews and has drawn complaints for its glitch-prone maps program.
But Apple shares fell around two percent in premarket trade, with the sales figure apparently disappointing some expecting even stronger iPhone sales.
Brian White at Topeka Capital Markets said the sales figures were “below our expectations” and added that “we were at the lower end of expectations.”
“We believe this shortfall is largely due to supply availability and the fact that most consumers are opting for the pre-order option,” White said in a a note to clients.
“We remain aggressive buyers of Apple on any weakness in the stock price this morning as we believe Apple has another blockbuster on its hands with the iPhone 5 and we expect the ‘iPad Mini’ to launch in the coming weeks.” (APP)