Record demand for i-phone5 as pre-orders soar tremendously

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Apple Inc. said pre-orders of its iPhone 5 topped 2 million units in one day, more than double the sales record set by the previous model of the device.

Because demand for the iPhone 5 exceeds the initial supply, some pre-orders will be delivered to customers in October, rather than September as previously planned, Cupertino, California-based Apple said today in a statement. Most orders will be delivered on Sept. 21, Apple said

“Clearly it’s a blowout,” said Brian White, an analyst at Topeka Capital Markets in New York. White said he had anticipated sales of 1.3 million to 1.5 million units.

Apple gained 1.1 percent to $698.62 at 9:30 a.m. in New York, surpassing a record close on Sept. 14.

The iPhone is Apple’s best-selling product, making up about two-thirds of profit. The company’s entry into the smartphone market in 2007 has resulted in sales of 244 million iPhone units and helped Apple become the world’s most valuable company.

“IPhone 5 pre-orders have shattered the previous record held by the iPhone 4S and the customer response to the iPhone 5 has been phenomenal,” said Philip Schiller, Apple’s senior vice president of global marketing, in the statement.

AT&T Inc., the largest U.S. phone company, said its customers ordered a record number of the iPhone 5.

AT&T subscribers ordered more of the new smartphone model than any previous iPhone both on its first day of preorders and during the weekend, the carrier said in a statement today, without providing details.

Source: washingtonpost.com