iPhone 5 orders
topped 2M in 24 hours
The Associated Press
Orders for the new iPhone 5 topped 2 million in 24 hours,
more than double the amount of its predecessor over the same period.
Since Apple started taking iPhone 5 orders on its website at
3 a.m. EDT on Friday, buyers who have a two-year service agreement with
AT&T, Sprint or Verizon Wireless have been able to order the phone for $199
(16 gigabyte model), $299 (32 GB) or $399 (64 GB model).
Apple said Monday that while most orders will be delivered
on Friday, demand for the iPhone 5 exceeds the initial supply. As a result,
some of the devices are scheduled for delivery in October.
The Cupertino, Calif. company's stock added 1.2 percent, or
$8.50, to close at $699.78 on Monday.
The iPhone 5 represents the first major revision of the
iPhone's screen size since the first model was introduced in 2007. The new
iPhone has an elongated screen _4 inches (10.16 centimeters) measured
diagonally_ that allows room for another row of icons and lets widescreen
movies fit better. The calendar will now show five days at a time instead of
just three. Previous iPhone models had 3.5-inch (8.89-centimeter) screens. The
new phone is also thinner and weighs less than previous models. It can operate
on LTE cellular networks and sports a new processor and updated software.
T. Michael Walkley, an analyst with Canaccord Genuity, said
he believes the iPhone 5's "differentiated form factor versus the iPhone
4S" and other improvements should drive strong iPhone 5 sales. The record
advanced orders on Friday and through the weekend caused Walkley to revise his
previous prediction that Apple would sell 6 million of the new iPhones by
September 29. He now believes "Apple could ship 9 million to 10
million" in that time, he told investors in a note on Monday.
Janney Capital Markets analyst Bill Choi said Apple's
announcement Monday "suggests iPhone 5 is running well ahead of iPhone
4S." In a note to investors, Choi reaffirmed his earlier expectation that
Apple will sell 7 million to 10 million iPhone 5s by the end of September.
It won't be easy for Apple to top the breakneck sales pace
set by previous iPhones. Apple said last year that it sold over 4 million
iPhone 4Ss just three days after its launch on October 14. That launch occurred
less than two weeks after the death of Apple's iconic founder Steve Jobs and as
the iPhone 4S went on sale, scores of Apple devotees were still mourning him
with candlelight vigils and impromptu memorial ceremonies outside of Apple
stores across the globe.
The iPhone 5 will be available at Apple's 356 U.S. stores
starting Friday. Each customer who makes a purchase at an Apple store will be
offered free personal setup service, which will help them customize their
device.
The phone will be available in more than 22 countries on
Sept. 28.
Aside from Apple stores, the iPhone 5 will be available at
Apple's website as well as through AT&T, Sprint, Verizon Wireless, some
Best Buy, RadioShack, Target and Walmart stores and certain Apple
authorized resellers.
Earlier Monday AT&T Inc. said it set a sales record
for the iPhone 5, with customers ordering more of them than any previous iPhone
model on the first day of orders and over the weekend.
