Apple sold more than 5 million iPhone 5 in first three days

CUPERTINO, Calif., Mon Sep 24, 2012 – Apple Inc. sold more than 5 million iPhone 5 smartphones in the three days after the new device hit the marketplace on Sept. 21, the company said on Monday.

Apple said it sold out its initial supply of iPhone 5s, as demand for its latest smartphone exceeded initial supply.

While the majority of pre-orders have been shipped to customers, many are scheduled to go out in October, Apple said.

AT&T says iPhone 5 fastest-selling iPhone ever

SAN ANTONIO, Texas, Mon Sep 17, 2012 – AT&T, the No. 2 U.S. mobile service provider, said it set a sales record with Apple’s iPhone 5 over the weekend, making it the fastest-selling iPhone the company has ever offered.

AT&T did not disclose how many iPhones it sold, but said the iPhone 5 was still available for preorder and would go on sale from Sept. 21 at AT&T retail stores.

It is not unusual for Apple products to sell out the first day. Orders for the previous iPhone 4S, the last product the company introduced before the death of co-founder Steve Jobs, surpassed 1 million in the first 24 hours, beating Apple’s previous one-day record of 600,000 sales for the iPhone 4.

Apple’s U.S. store, at www.apple.com, on Monday morning showed pre-orders for the iPhone 5 would take 2-3 weeks to ship.

The phone’s other carriers, Verizon Communications Inc. and Sprint Nextel Corp., also showed similar delays in shipping the phone.

The company began taking orders for the iPhone 5 at midnight Pacific Time (0700 GMT) on Sept. 14, but shipping dates for the slimmer and faster smartphone slipped by a week within an hour of the start of pre-orders.

New iPhone boosts forecasts for Apple smartphone sales

SAN FRANCISCO, Thu Sep 13, 2012 – Sales of Apple Inc.’s new iPhone 5 may be double those of the previous model in its first week on the market, and up to 33 million iPhones may be sold this quarter, brokerage houses forecast on Thursday.

Many expressed surprise at how quickly Apple planned to roll out the new model around the world, saying this suggested it would be able to keep up with demand for a bigger, faster and slimmer iPhone, which goes on sale this Friday.

Several analysts raised forecasts for Apple’s share price by as much as $60, to between $750 and $820. The stock closed at$669.79 on Wednesday.

“We are positively surprised that this iPhone rollout is Apple’s fastest yet,” Barclays Equity Research said in a note to clients.

Apple will continue to win sales with older models, brokerage William Blair & Co added.

“The iPhone 4 will be sold for free after subsidies, replacing the 3GS and providing a strong product to compete in the high-growth, low-end smartphone market,” William Blair said.

The brokerage raised its sales forecast for all iPhone models by 29 percent to 33 million for the July-September quarter, at the top of forecasts that ranged from about 20 million to about 30 million in brokerage notes seen by Reuters.

RBC Capital Markets said it expected Apple to ship 8 million to 10 million of the new models by the end of the month.

The brokerage said this could result in additional sales of $4 billion to $5 billion for the period. It increased its price target for the stock by $50 to $750.

The iPhone 5 sports a 4-inch “retina” display screen, can run on high-speed 4G LTE wireless networks and is 20 percent lighter than the previous iPhone 4S.

It ships on Sept. 21 in the United States, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and Britain and will hit 100 countries by the end of the year in the fastest international rollout for an iPhone so far.

Barclays noted the rapid rollout as it increased its price target for Apple stock to $810 from $750.

Robert W. Baird & Co, which also raised its price target on the stock, now expects Apple to sell 24.4 million iPhones in the September quarter, up from its earlier estimate of 21.2 million.

Apple’s iPhone needs to dazzle as market gets crowded

SAN FRANCISCO, Wed Sep 12, 2012 – The new iPhone 5 has to be more than just another smartphone as it carries the weight of Apple Inc.’s future on its slim frame.

Five years after the first iPhone upended the mobile industry, analysts say Apple is looking increasingly defensive as Samsung Electronics Co Ltd and other rivals have been first to market with phones that sport bigger screens or run on faster wireless networks.

Apple will try to close that gap on Wednesday with the unveiling of the newest iPhone, which is widely expected to offer 4G wireless technology for the first time, and a 4-inch display, up from the current 3.5 inches.

But it remains to be seen if CEO Tim Cook has any surprises up his sleeve, and if he will show off any technological breakthroughs that can put the iPhone 5 head and shoulders above the competition.

“They have been in the crosshairs of a lot of companies for a long, long time,” Sterne Agee analyst Shaw Wu said.

“They were the upstarts before,” he added. “Now they are more in a defensive role.”

Apple shares typically rally ahead of, and sell off after, a major product launch. They have gained 15 percent in the past six weeks to touch an all-time high on Monday.

Apple has grappled with competitive pressure since the first iPhone in 2007, though its rivals have changed as former market leaders such as Canada’s Research in Motion or Finland’s Nokia struggle, and as Asian powerhouse Samsung has come to the fore.

While no one company has yet been able to match Apple’s seamless integration of hardware and software, Google Inc’s Android has become the most-used mobile operating system in the world, and Samsung has the lead in device sales.

Wednesday’s iPhone 5 launch also comes days after Nokia unwrapped its first phone to run the latest Microsoft Windows software, intended to spearhead a new family of devices.

“It is getting tougher to expand the market share,” Gartner Research analyst Carolina Milanesi said.

The iPhone contributes half of Apple’s revenue and the majority of its profit, so Cook needs to dazzle both Wall Street and consumers. He is praised for having sustained Apple’s breakneck pace of growth since taking over last year, but the jury is still out on whether he has the innovation and marketing genius of the late Steve Jobs in the long run, analysts said.

Weekly options are implying about a 3 percent move for shares up or down between Monday and the close of trading Friday, a marginal fluctuation, said TD Ameritrade chief strategist J.J. Kinahan.

Even though few tech experts expect the new iPhone to mark a sea change in smartphone hardware technology, Wall Street analysts are still expecting Apple to sell 10 million to 12 million phones in September alone.

What’s up dock? Apple to shrink connector for iPhone 5

CUPERTINO, Calif., Mon Jul 23, 2012 – Apple Inc.’s new iPhone will drop the wide dock connector used in the company’s gadgets for the best part of a decade in favor of a smaller one, a change likely to annoy the Apple faithful but which could be a boon for accessory makers.
The iPhone 5, Apple’s next generation iPhone expected to go on sale around October, will come with a 19-pin connector port at the bottom instead of the proprietary 30-pin port “to make room for the earphone moving to the bottom”, two sources familiar with the matter told Reuters.
That would mean the new phone would not connect with the myriad of accessories such as speakers and power chargers that form part of the ecosystem around iPods, iPads and iPhones, without an adaptor.
That means new business, analysts say.
“It represents an opportunity for accessory vendors,” said Pete Cunningham, London-based analyst at technology research firm Canalys. “The iPhone connector has been a standard for a long time now and I would expect the same to be true for a new connector, should Apple change it as expected.”
Apple did not immediately reply to an emailed request for comment.
Tech blogs have long speculated on the demise of the 30-pin connector, which at 21 mm wide takes up a chunk of space, especially as the latest technologies such as microUSB offer more power in less space.
They say that a smaller connector would give Apple more scope for new product designs or a bigger battery, or simply to make ever smaller products.
Switzerland’s Logitech, one of the biggest makers of Apple speakers, declined to comment.
But some enterprising vendors in China have already begun offering cases for the new phone, complete with earphone socket on the bottom and a “guarantee” the dimensions are correct.

Apple expected to unveil new, improved iPhone next week

SAN FRANCISCO ―Apple Inc looks set next week to unveil its much-awaited new iPhone, which analysts say will have a bigger screen and work better with remote computing services.

Apple on Tuesday invited media to a “special event” called “Let’s talk iPhone” next week at its headquarters in Cupertino, an unusual location for a company that typically introduces major products at larger venues in San Francisco.

The invitation did not have any other details, and an Apple spokesman would not provide further information.

The new iPhone would be the first major product introduction under Chief Executive Officer Tim Cook, who took over full-time after co-founder Steve Jobs resigned last month.

It was unclear if Jobs, who is now chairman, will take the stage at the event.

“This is the iPhone 5,” ThinkEquity analyst Mark McKechnie said of the event.

Though a good product, the current iPhone4 could use some improvements, he added. “We talked about it having a bigger screen, a dual core processor, and probably integrates pretty well with the iCloud.”

The iPhone — introduced in 2007 with the touchscreen template now adopted by its rivals — remains the gold standard in the booming smartphone market.

Apple introduced the iPhone 4 in June 2010 in black 16 gigabyte and 32 gigabyte versions, with white ones added to the lineup in April. The company typically refreshes its iPhone lineup during its developer event in June, but delayed the new model this year.

Apple sold 20.34 million iPhones in the third quarter ended June 25, which analysts say helped it vault past Nokia and Samsung Electronics to become the world’s biggest smartphone maker.

Shares of Apple were up 0.5 percent at $405.26 in midday trading.