Successful weekend for Apple

  • Apple said it has been able to sell nine million of its new models this weekend. This topped the Wall Street expectations and increased the company's shares by over 5 percent. 

    Demand for the company's traditional upgrade, iPhone 5S was more than the supply and many of the orders placed online are expected to be shipped in the coming weeks. 

    Apple CEO Tim Cook said, "the demand for the new iPhones has been incredible, and while we've sold out of initial supply of iPhone 5S, stores continue to receive new iPhone shipments regularly."

    An ISI Group analyst said they expected the sales to be around six million but the actual number is "very strong". Unlike last year, when the sales totaled to five million over the first weekend, the company launched its devices in China and other major markets for this first time this year. 

    The analyst also mentioned that it is the lower price of the Apple's 5c that will help "to address a large part of the mid-tier market."

    Tagged as: apple new iPhone sales, apple sales first weekend, apple iphone availability, apple. apple upgrade, technology news