iPhone 5 Sales: 2 Million Day One Orders, Apple Says
Is anyone surprised that Apple’s (NSDQ: AAPL) iPhone 5 sales bounded over the 2 million mark on day one, more than doubling the 1 million units mark set by the iPhone 4S, according to the company? With sky high expectations for how the new smartphone’s pre-orders would stack up, the news would have been far more telling had the numbers not blown off the early sales doors, even though there was exactly zero and no chance of that happening.
Last Friday, the flood of bottled up demand stalled Apple’s web site as the vendor slid the iPhone 5 ship dates back to September 28, prompting carriers AT&T, Sprint and Verizon to move back their delivery dates as well. This morning, Apple said that the majority of pre-orders will be delivered by September 21 but conceded that many customers won’t get the device until October.
Overall, based on what some of the major players are saying, the anecdotal initial reports, as in mostly absent hard data, are overwhelmingly positive:
- Apple: “Demand for iPhone 5 exceeds the initial supply”
- AT&T: iPhone 5 “the fastest-selling iPhone the company has ever offered”
- Sprint: Preorders in line with expectations
Still looming are the bigger targets, the ones requiring the eye-popping sales numbers to achieve, the market and industry changers, such as JP Morgan chief economist Michael Feroli’s estimate of 8 million units sold yielding a Q4 U.S. GDP of $3.2 billion; a report by Gene Munster, a Piper Jaffray analyst, suggesting that Apple could reach 10 million in iPhone 5 unit sales for September and 28 million units for iPhones overall for the quarter; or, a projection by Michael Walkley, a Canaccord Genuity technology analyst, of 10 million iPhone 5 units sold by September 29 based on pre-order numbers, as reported here.
Two million iPhone 5 units in 24 hours is, obviously, a fabulous start. We’ll know more in a few days about the bigger targets.
On September 21, all 356 Apple retail stores in the U.S. and Best Buy, RadioShack, Target and Walmart will be selling the iPhone 5. One week later the vendor will roll it out to 22 more countries worldwide.
As for the iPhone 4S, Apple has knocked its price down to $99 and is offering the iPhone 4 for free with a two-year contract.