Apple Sells Out Initial iPhone 5 Inventory After One Hour of Preorders

By Karla Robinson
September 17, 2012

Despite early mixed reviews of the iPhone 5, Apple reportedly sold out its initial inventory of the new handset within an hour of preorders opening.
The device is set to launch September 21, but after an hour of accepting preorders, Apple’s website explained to customers that new orders would be available to ship in two weeks.
Carriers are also taking orders for the new iPhone, but so far have not changed their shipping dates, suggesting they may still have sufficient inventory for the demand.
The iPhone 5 is an expensive endeavor for carriers and some have experienced a dip in revenue projections. Apple, on the other hand, saw its stock again soar to a new record, $696.98.
“The iPhone 5 is critical to Apple’s continued success,” the Wall Street Journal reports. “Not only have the phones powered Apple to become the world’s largest company by value, they have become the bedrock of the company’s mobile-device strategy. Software in the iPad tablet computer is shared with the iPhone, largely intertwining the fate of both devices.”
“Apple is charging $199 for the cheapest iPhone 5 if customers sign up for a new two-year contract with their carriers,” notes the article, adding the rollout is Apple’s most aggressive to date, with plans to reach 100 countries by the end of the year. “The company is also selling a version of its year-old iPhone 4S for $99. The iPhone 4, launched in 2010, is being offered free.”

No Comments Yet