Apple offers official candy sales figures for the first time

The iPhone 5 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. 

Sources: Apple, Reuters

"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)
Related Articles

Most Popular ArticlesProblems with Windows 10 – Update Now
October 15, 2016, 7:30 AM
End of the Road for the Audi R8 e-tron
October 15, 2016, 5:00 AM
Is Razer Blade Stealth Laptop For You?
October 16, 2016, 5:00 AM
Bluetooth Saves Lives
October 16, 2016, 7:05 AM
IBM – Cloud Object Storage Cheaper than Amazon S3
October 14, 2016, 5:00 AM

Latest Blog Posts
T-Mobile Data Problems
Saimin Nidarson - Oct 20, 2016, 10:17 AM
IMEX America Trade Show
Saimin Nidarson - Oct 9, 2016, 10:00 AM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki