Technology giant Apple, Inc. (AAPL: Quote) announced Monday that pre-orders for the iPhone 5 breached the 2 million mark within just 24 hours of its opening for taking orders on September 14. The predecessor - iPhone 4S had recorded 1 million orders in 24 hours just a year ago.
"iPhone 5 pre-orders have shattered the previous record held by iPhone 4S and the customer response to iPhone 5 has been phenomenal," said Philip Schiller, Apple's senior vice president of Worldwide Marketing.
The company also revealed that the demand for iPhone 5 exceeds the initial supply and the majority of pre-orders will be delivered on September 21, while many are scheduled for delivery in October.
The much awaited launch of the thinner, lighter, bigger model with a faster processor strengthens Apple's presence in the smart-phone market in the coming holiday season. This is also seen as a shot in the arm for Apple, which has recently been trailing to South Korean conglomerate Samsung Electronics Co. Ltd. (SSNLF) in smart-phone shipments.
Samsung has been stretching its lead over rivals Apple and Nokia Corp. (NOK) as the world's largest vendor of smartphones by shipment volume since end of 2011. Samsung leads the global smart-phone market with around 32 percent of total market share with help of its Galaxy series phones, followed by Apple at about 17 percent.
Apple's iPhone 5 will be competing with Samsung flagship product Galaxy S3, Nokia's latest releases Lumia 910 and Lumia 810, which runs on Windows Phone 8, and Motorola's three new Droid Razr entrants. iPhone generates more than half of Apple's revenue.
Apple claims the latest iPhone to be the thinnest smart-phone in the world, it is even 18 percent thinner and 20 percent lighter than iPhone 4S.
Apple launched the iPhone 5 at a company-held event at Yerba Center in San Francisco on September 12. The new iPhone comes with a 4-inch retina display, an A6 chip, improved battery performance and works on 4G networks as well.
iPhone 5 also comes loaded with iOS 6, Apple's latest mobile operating system that has 200 new features, including a new Maps app, Face book integration for Contacts and Calendar, Passbook, and new Siri features.
The new device will be available in stores from September 21 in the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the U.K. It will also be available worldwide to 22 more countries on September 28.
The new iPhone will be available in the U.S from Verizon Wireless, AT&T Inc (T), Sprint (S), select Best Buy (BBY), RadioShack (RSH), Target (TGT) and Walmart stores (WMT), with prices starting from $199 for the 16GB model, $299 for the 32GB model, and $399 for the new 64GB model.
In Monday's regular trading session, AAPL is currently trading at $697.34, up $6.06 or 0.89% on a volume of 2.83 million shares after hitting a 52-week high of $699.52 in early deals.
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by RTT Staff Writer
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