The iPhone 5 sold more than 2 Million units in China during its first three days after the device launched last Friday. This marks China’s best-selling iPhone launch ever. This is also a record making device launch for Apple. If I remembered it right, the iPhone 5 was launched last September 21st in not just one country, it was launched in 9 countries including the US, UK, Australia, Canada, etc. The iPhone 5 sold more than 5 Million units in its first weekend alone. If that made a 5 Million mark, then China’s market is definitely huge for selling more than 2 Million iPhone 5s.
However, the strong sales record of the iPhone 5 in China, did not stop Apple Inc.’s share from falling down. It is actually fell to 3.8% last Friday to $509.79. Citi Research downgraded Apple’s stock late Sunday to ‘neutral’ from ‘buy’ and lowered its price target to $575 from a high $675, they’ve also cited the diminishing hype around the iPhone 5 and the improving competition in the smartphone market.
The iPhone 5 is Apple’s latest jewel and is the successor of the famous iPhone 4S. But the iPhone 4S sold 1 Million units only on its first weekend. The iPhone 5 sold 1 Million more than its predecessor. Apple announced its China sales numbers for the very first time. Analysts say that Apple Inc.’s long term outlook in their China market and are expecting to expand their current market there. Hopefully they can include China’s largest network China Mobile Ltd. Soon.
Last Friday, the iPhone 5 reached more countries/markets as well. Will this beat the strong sales of the Samsung Galaxy S3 before Q4 ends? Let’s just all wait and see.
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