Apple announced that first weekend sales of the iPhone 5 were 5 million, roughly a million more than the iPhone 4S managed. This set a three day record for the company, even as demand outstripped supply and sales fell below the hopes of some analysts.
“The number is lower than what people had expected,” said Brian White, an analyst at Topeka Capital Markets, who had estimated debut weekend sales of 6 million to 6.5 million units. “This seems to be driven more by availability than demand.”
“The story now with Apple is less about the gorgeous technology and more about if it can really execute the global supply,” said James Kelleher, an analyst at Argus Research. “Can they get them to as many people as they want in the right amount of time “
Some particularly optimistic analysts saw sales between 6 and 8 million and one thought the iPhone 5 might reach 10 million. It is worth noting that the 5 million does not include orders from Apple’s online store that haven’t been delivered.
“Units in transit could be in the millions currently,” said Brian Marshall, an analyst at ISI Group.
“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 CEO. “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.”
Source: Business Week
