Apple has announced that its latest smartphone, the iPhone 5, has sold over 5 million units in just 3 days on sale. That’s a 25 per cent increase compared to their previous model, the iPhone 4s, which sold 4 million units in the same time period.
Demand for the new model has been so high that Apple has admitted to being unable to keep up with demand, resulting in many stores selling-out of the device.
This incredible demand re-asserts Apple as the dominant smartphone manufacturer and again highlights the company’s ability to generate enthusiasm among its fan base. The iPhone 5 marks a significant step up from Apple’s previous, incremental upgrade, the iPhone 4s. However the company has also received criticism that many of the iPhone 5’s new features, such as 4G wireless connection and a bigger screen, should have been included in the 4s originally. Apple’s latest operating system, the iOS 6, has also come under fire, particularly in regards to its map functionality. The iOS 6 isn’t compatible with Google Maps, requiring users to use Apple’s own maps application, an app that is currently plagued with a number of errors and a lack of detail. This hasn’t stopped more than 100 million Apple users from already upgrading their devices to the iOS 6.
Despite these criticisms, the iPhone 5 has generally been met with strong reviews and now it has been met with strong sales as well. Yet this enormous success has apparently fallen short of some expectations, causing Apple’s stock to fall by more than 2 per cent. Some analysts predicted sales of up to 10 million, claiming that sales of 6 million units would be a “worst case scenario”. Even though the device has become Apple’s fastest selling iPhone ever, it has not lived up to these lofty sales expectations. Regardless, it is being predicted the company could sell as many as 50 units by the end of the financial year.
The iPhone 5 is currently available in 9 countries with another 22 getting the phone by the end of the week.