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#Post#: 1326--------------------------------------------------
Apple sells record 9 million iPhones in opening weekend
By: I-Luv-Rashi Date: September 24, 2013, 4:15 am
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Apple sells record 9 million iPhones in opening weekend
HTML http://i2.cdn.turner.com/money/dam/assets/130923094549-chart-opening-weekend-iphone-sales-620xa.jpg
Apple announced it sold 9 million of the new iPhone 5S and
iPhone 5C models since they went on sale Friday -- a record
opening weekend for the iPhone.
That's nearly double the 5 million iPhones that Apple sold
during the first three days that the iPhone 5 was on sale last
year, and sales were well above Wall Street analysts'
expectations. Shares of Apple (AAPL, Fortune 500) rose 6% Monday
morning.
But this year's stellar opening weekend for Apple comes with two
sizable caveats: Apple included China in the iPhone 5S and 5C
launches. Last year, China didn't get the new iPhone 5 until
December. Apple also launched two new iPhones this year, heavily
marketing the colorful iPhone 5C. In 2012, Apple only unveiled
one new kind of iPhone.
The iPhone 5S, which comes in gold, silver or space gray, is
available in the United States for a suggested retail price of
between $199 to $399. The iPhone 5C, which comes in blue, green,
pink, yellow and white, is available for between $99 to $199.
Still, the news was very good for a company that has been living
under a microscope lately, scrutinized for launching new devices
with only incremental updates. Apple said this weekend's heavy
demand caused it to exhaust its initial supply of the iPhone 5S.
As a result, Apple said it expects its quarterly sales to come
in at the high end of its estimated range of $34 billion to $37
billion. The company also said it expects gross profit margins
will be on the higher end of its guidance.
Related: New iPhones draw lines around the world
The new flagship iPhone 5S is similar in appearance to last
year's iPhone 5, but it's twice as fast thanks to Apple's new A7
chip. It also has a beefed-up camera that includes slow-motion
video and a camera "burst mode" that shoots 10 frames per
second. The 5C features a polycarbonate shell, instead of the
glass-and-aluminum body of the previous iPhone 5S.
The company also said more than 200 million Apple devices are
now running the completely redesigned iOS 7 operating system
which comes preloaded on the new iPhone, making it the fastest
software upgrade in the company's history.
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