Report: 1 Million iPad 2's Sold During Launch Weekend
March 14, 2011 2:16 PM
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Sells ten times faster than the original iPad
, Apple's iPad 2 sold one million units in its launch weekend, surpassing the milestone almost 10 times as fast as its predecessor.
The iPad 2
went on sale last Friday at Apple, Verizon, and AT&T stores, as well as Target, Wal-Mart, and Best Buy. Large crowds
across the United States, with more than 500 people queued up at Apple's flagship San Francisco store and roughly another 800 at its Manhattan location. The crowds even attracted gawkers.
"Our field checks over the weekend indicate that the iPad 2 sold out at every Apple and non-Apple store we contacted," Ticonderoga Securities analyst Brian White wrote in a research note. "In fact, all the stores had worked through iPad 2 inventory by Saturday afternoon, and there were no new iPad 2 deliveries on Sunday."
that the iPad 2 could potentially have sold one million units in its first weekend, a feat that took 28 days for the original when it hit the market last year. Wedbush Securities analyst Scott Sutherland echoed White's prediction.
With the launch, Apple appears to have secured its number one spot in the tablet market for the time being,
cooling the momentum
that tablets from other manufacturers
such as Motorola
and Samsung were beginning to gain.
Apple is expected to retain 61 percent of
the lucrative tablet market
for 2011, according J.P. Morgan analyst Mark Moscowitz. According to Moscowitz, other companies will have trouble attracting customers the way Apple has.
The iPad 2 is set to launch worldwide on March 25.
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The smart cover crushed the rival tablets
3/14/2011 2:56:43 PM
Asymco has a piece where he calculates that Apple's new Smart Cover for the iPad will bring in revenues of over a $1billion for Apple this year and given a reasonable estimate of how much the covers cost to make will probably add around £777 million to Apple's gross margin.
This means that Apple will probably make more money from the iPad cover than other tablet manufacturers make from their total tablet sales!
RE: The smart cover crushed the rival tablets
3/14/2011 3:04:14 PM
That might not be a surprise if you look back on accessory sales for the iPod. I would guess more was made from those (e.g. docks) than from any competitor's PMP. [Though much to my chagrin since I hate iPods ;-) ]
RE: The smart cover crushed the rival tablets
3/15/2011 5:00:32 PM
I guess L. Ron Hubbard was right...the best way to make a fortune is to start your own religion. All you need is a willing flock with more money than sense.
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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