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 3:44:09 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!
"Mac OS X is like living in a farmhouse in the country with no locks, and Windows is living in a house with bars on the windows in the bad part of town." -- Charlie Miller
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