iPhone May Have Exceeded Sales Estimates

It seems that Apple Inc.’s CEO Steve Jobs just might realize his dreams of making the iPhone as popular as the company’s computers and the iPod. Analyst David Bailey of Goldman Sachs Inc. says that sales figures over the weekend may have been as high as 700,000 units, whereas Piper Jaffray’s Gene Munster gauged the trading at around 500,000. These figures are at least twice the size of many original estimates. By Sunday night, over a third of Apple’s 164 stores were cleaned out. Even AT&T said that most of its 1,800 stores were cleared within 24 hours.
“‘This is a very successfully handled launch,’ asserted Gene Munster in an interview today. ‘The real sign of success would be what kind of legs this product has in 2008 and 2009. In 2009, we estimate a third of Apple's sales will be from iPhone. This is a huge product.’”
On eBay, the average purchase price was $774, which is undoubtedly skewed as one iPhone seized a whopping $12,500 bid.

Though there are two different versions of the iPhone, a 4GB version and an 8GB version, which sell for $499 and $599 respectively, shoppers who were interviewed in California and New York seemed to favor the latter.

Jobs expects that 1 billion mobile phones will be sold in 2008, nearly four times the number of PCs. As such, his goal is to capture 1% of the global market by selling 10 million iPhones in 2008. Next year, new versions of the iPhone will be released. Also, there are plans to launch the iPhone in Asia next year. The iPhone will hit European shores first, however, later this year.

Last week he announced that production has been boosted to meet forecasts. Under his management, Apple has seen annual profits skyrocket from $65 million to nearly $2 billion over the past five years. Sales figures have increased by more than 300% to about $20 billion. As they say, actions speak louder than words.
Tags:  iPhone, Phone, Sales, Sale, mat, AV, One, TIM, IP, IM