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 3:18:43 PM
Selling tons on the first weekend - means nothing.
No queues outside the Chinese Apple stores on launch day because of a new reservation policy -
OMG Apple is crashing!!!!
Apple has smash hit sales figures for it's Chinese launch weekend -
Yawn - it means nothing.
Let's face it, for some folks the only exciting news about Apple is bad news, even if they have to make it up.
Personally I tend to think huge numbers for a product launch weekend is generally an indicator of product success rather than failure.
"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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