Early predictions for the iPhone 5 were nothing short of miraculous, with some analysts going on record with a sales target of 10 million units sold in the first 30 days. Others went so far as to suggest the mighty iPhone would contribute a whopping 0.5% to the entire U.S. GDP. Keep in mind, we’re talking about a phone here, an expensive one at that, and thus not a necessity for anyone. I agreed that there was pent-up demand for Apple’s latest device, but these numbers seemed liked hype and not reality.
But I’m beginning to think the bulls were right.
TechCrunch is reporting that today, as pre-orders for the iPhone began at midnight, the demand for the iPhone 5 obliterated the previous sales records set by the iPhone 4 and 4S. Unlike the older models which took 20 and 22 hours respectively to sell-out of Apple’s first week stock, the iPhone 5 hit this milestone after 60 minutes.
Now, we need to be somewhat circumspect with our amazement, after all, only Apple knows the true number of units this represents. It’s quite conceivable that they simply had fewer units available for the September 21st launch date than with their previous models. And yet, there’s no question, despite lacking a single big “wow” factor feature, the iPhone 5 is likely going to be the most popular iPhone yet.
Update, September 17: Looks like the early reports of sell-outs weren’t just the result of low-inventory. Apple says that the iPhone 5 shattered the previous first day-sales record for an iPhone – the company sold more than 2 million units in the first 24 hours. That’s nearly double the amount of iPhone 4S units sold in the same period post-launch.
If you’re a Canadian looking to hop on the iPhone bandwagon, we’ve got good news: The $199 starting price quoted by Apple at their launch event on Wednesday is the U.S. contract price. Here in Canada, with our longer 3-year terms, the starting price is a little lower: $179 for a three-year term with all of the major carriers.