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Telecom & Wireless

Five Million iPhone 5s Sold over the Weekend

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By Paul Ausick Published

Apple Inc. (NASDAQ: AAPL) announced this morning that the company sold more than 5 million iPhone 5 units over the three days since the product was released. The phone was available to customers in the U.S. and eight other countries on its first weekend and will be available in 22 more countries by the end of this week. The iPhone 5 will be sold in more than 100 countries by the end of the year.

The huge first weekend sales figure eclipses the 4 million iPhone 4S sales following the product’s announcement last year. An estimate from an analyst at Piper Jaffray for 10 million iPhone 5 sales by the end of September certainly looks to be within reach.

Apple also reported that 100 million iPhone owners who did not buy a new iPhone 5 have already upgraded to the new iOS 6 mobile operating system.

Apple’s shares are down more than 2% this morning at $684.88 in premarket trading. The 52-week range for the stock is $354.24 to $705.07.

Paul Ausick

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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