Quick Note: Apple Sells 2 Million iPhone 5 Smartphones During Chinese Debut
December 17, 2012 9:17 AM
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Apple offers official candy sales figures for the first time
went on sale in China on December 14. Apple announced over the weekend that in only three days after that launch it has sold 2 million iPhone 5 smartphones. Apple also reasserted that the iPhone 5 would be available in more than 100 countries by the end of December marking the fastest iPhone rollout ever.
“Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China,” said Tim Cook, Apple’s CEO. “China is a very important market for us and customers there cannot wait to get their hands on Apple products.”
Despite the successful rollout, Apple shares fell 3.8% in trading on Friday after the iPhone 5 debuted in China. Citi Research downgraded Apple stock from "buy" to "neutral" and lowered Apple's price target from $675 to $575.
Citi Research blamed diminishing hype for the iPhone 5 and improving competition in the smartphone market.
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12/17/2012 12:38:50 PM
I am embarrassed to own a Apple product these days. I used to have an iPhone, but quickly got rid of it for something less Bieber-like. I still have an iPad, though I am reluctant to use it when there are other people around.
I feel this may be the way it turns out in the long run for most people. It was cool at first, but now it's just embarrassing to be so brand loyal.
I'd almost say that it was the Apple enthusiasts that did me in, and I don't want anything to do with it anymore.
I think more and more people will eventually realize this.
12/17/2012 3:44:09 PM
This takes me back to the early seventies, when Timex watches were selling in N America for $10. When I was in Germany the watches were selling for $50 and higher. Swiss made watches were cheaper in Germany then Timex but more expensive in N America. That taught me a valuable lesson in Market Media Hype Advertising. Advertising Media Hype is all bullsh*t depending in what part of the world you live in. The Chinese are just coming out of the stone age and are going to be more dazzled by the glitz and glamor of the Media. It shouldn't take them to long to figure out the fluff from real. In the seventies we didn't have the net to make comparisons with the rest of the world, so the media ruled the roost. The market they go after is the young impressionable minds. Remember when the advertisers claimed that Ads didn't affect the young Saturday TV watchers. Well if it doesn't work their blowing billions every year. You can't get away from advertisers unless you go out in the bush fishing. Just stay away from other campers who use cell phones in case you see an apple logo.:)
12/19/2012 11:00:33 AM
Apple is not cool. Owning their products is not cool, either.
I used to own a Starter jacket back in the day, and thought Vanilla Ice was cool, too.
I used to really care about how many records Milli Vanilli was selling. They were raking in the profits!
"If you look at the last five years, if you look at what major innovations have occurred in computing technology, every single one of them came from AMD. Not a single innovation came from Intel." -- AMD CEO Hector Ruiz in 2007
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