Apple sells 2 million iPhones in China, amid Wall Street worries about demand

Apple has sold a "record" 2 million units of the new iPhone 5 during its first three days of sales in China

Apple reported Monday that it had sold a "record" 2 million units of the new iPhone 5 during its first three days of sales in China--a report that emerged as Wall Street analysts downgraded the Apple's stock because of perceived softness in demand for the new phone.

"Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China," Tim Cook, Apple's CEO, said in a press release. "China is a very important market for us and customers there cannot wait to get their hands on Apple products."

The weekend's strong start mirrored previous iPhone launches for the iPhone in China, where stores reported shortages after two days of iPhone 4 sales in 2010, and where high demand forced the company to sell the iPhone 4S exclusively online during its launch last year.

Apple's report, though, came a day after Business Insider reported that Citi's trio of Apple analysts had cut their recommendation on Apple stock from "buy" to "neutral," citing their belief that Apple is easing up production of the iPhone 5 in response to relatively lower demand. Two other industry analysts, UBS and Jefferies, also cut their price targets for Apple's stock last week, triggering a fall in the company's stock price.

The iPhone 5 launched Friday in China. Apple says it'll be available in more than 100 countries by the end of the month, making for the fastest iPhone rollout ever.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags iPhonesAppleconsumer electronicsiPhone 5iPhonesmartphones

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Joel Mathis

Macworld.com
Show Comments

Essentials

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?