Most of us predicted that Apple Inc will earn big revenues with its flagship product iPhone 6 and its bigger version iPhone 6 Plus. However, the numbers that we are getting now suggest that these products might turn out to be the most successful ones the company has ever marketed. The first three days after the launch of the two phones saw the company selling over 10 million iPhones.
The sales figures achieved by the company during the weekend following the Friday launch once again proved the high demand for smartphones with bigger displays. Here, it should be noted that the year 2013 witnessed the Cupertino, California-based tech firm selling as many as 9 million iPhone 5C and iPhone 5S in eleven countries in the first weekend following their release.
Tim Cook, Apple’s chief executive officer, said that his company would have sold more units of the iPhone 6 and iPhone 6 Plus if adequate supplies were available.
Analysts, however, were quick to predict that Apple will record first weekend sales of up to ten million units of its flagship smartphones when the company received more than 4 million pre-orders on Sept 12, the day on which it started taking pre-orders.
A couple of years back when Apple launched the iPhone 5 in ten countries, the number of preorders it received on the first day was 2 million. The sales recorded by the company in the first weekend following the launch for its iPhone 5, iPhone 4S and iPhone 4 models, on the other hand, were respectively, 5 million, 4 million and 1.7 million.
Cook said that although the manufacturing procedure of the iPhone 6 and iPhone 6 Plus was handled more efficiently by Apple than ever before, the company missed the opportunity of selling more iPhones due to lack of supplies. He added that people at Apple are currently working hard to ensure that orders are filled quickly.
According to Gene Munster, an analyst representing the investment bank and asset management firm Piper Jaffray & Co, what the great performance of the new iPhones might do is allow Apple to earn 9% higher revenue than the revenue predicted by Wall Street. Munster informed that the estimates by Wall Street were produced based on projected demand and reported sales for the newly unveiled iPhones. The PJC analyst added that he is expecting the earnings for every share to be 12% higher than the estimates.
Brian White of the financial services firm Cantor Fitzgerald, on the other hand, has written that in spite of experiencing supply chain deficits for the iPhone 6 Plus and having difficulties in meeting the demand for certain iPhone 6 models, Apple has managed the situation exceedingly well.
It must be mentioned here that the Cupertino-based company has managed to achieve such impressive sales figures in spite of the fact that the new iPhones have not yet hit the stores in China, which is the biggest smartphone market in the world. Apple had to delay sales of these products in China due to some regulatory issues.