Apple sets a record by selling two million phones in just 24 hours

Apple incorporation has created a record of sorts by booking orders for over two million iPhone 5 models in the first twenty-four hours that reflected the higher than expected demand from the consumers for this iPhone model.  The icing on the cake is that the share price of this corporation rose to $691.28 per share on NASDAQ. The shares had gained nearly 22% in the past three and half months towards built up to the launching of the Apple iPhone5.

The Apple’s US store through its website stated that it was projecting shipments for the iPhone5 will take about two weeks to fulfill. The company’s website revealed that the buyers from United Kingdom, Germany and France have to wait as much as three weeks to receive their orders when iPhone 5 will start shipping the iPhone next Friday.  The new model will also be available in Apple stores coming Friday as a walk-in buy.

Even analysts were surprised at how quickly Apple planned to roll out the new model globally and opined that this was the fastest roll out of the phone since it launched its’ first iPhone in 2007. Wall Street analysts forecast that Apple may sell over 42 million units this year alone.   However, some analysts believe that early sell out may be due to supply crunch on part of Apple.

The new phone that attracted the attention of the buyers has a large 4-inch screen and is slimmer and lighter than its’ earlier model. The iPhone 5 supports the faster 4G network and comes with a number of software updates that includes the Apple’s new in-house map feature.  One of the Apple’s key suppliers of screens, Sharp Corporation is facing difficulty with high costs and confusion about raising funds to pay the debts.

The latest iPhone 5 of Apple has generated a lot of competition in the smart phone market against phones that run on Google’s Android software. Android is now the most used mobile operating system in the world and Apple’s competitor and supplier Samsung Electronics has taken the lead in smart phone sales.  But now Apple appears to make headway into the corporate market that used to be traditional stronghold of the now struggling Canadian company Research in Motion.

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