backtop


Print 32 comment(s) - last by degobah77.. on Dec 19 at 11:00 AM

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



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Important market?
By erple2 on 12/17/2012 10:09:47 PM , Rating: 2
Maybe, but Apple still makes pretty good profits on each sale of hardware, so that's pretty good too. I don't know if that's the case with the iPhone 5, but that was certainly the case with previous iterations of the iPhone.


"Young lady, in this house we obey the laws of thermodynamics!" -- Homer Simpson

Related Articles













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki