Apple sold more than 5 million iPhones this weekend, the company said in a press release. That surpasses the initial sales of the previous version.
, demand for the new phone quickly exceeded the initial supply, but some analysts expected bigger sales.
They report:
"A successful debut for the iPhone, responsible for about two-thirds of profit, is crucial to fueling the growth that transformed Apple from a niche computer maker into the world's most valuable company. Demand for the iPhone 5, with a bigger screen and faster wireless speeds, gives Apple a boost over rivals including Samsung Electronics Co. that use Google Inc.'s Android mobile software.
" 'The number is lower than what people had expected,' said Brian White, an analyst at Topeka Capital Markets, in an interview. He had estimated debut weekend sales of 6 million to 6.5 million units. 'This seems to be driven more by availability than demand.' "
That last part of the sentence is important. USA Today reports that if Apple had predicted better numbers and been prepared with more units, the sales would've been better — a lot better.
"The reality is, because of the supply, they could have sold more," Piper Jaffray analyst Gene Munster . Munster said without a supply constraint Apple could have seen a number "closer to 7-8 million."
, Apple CEO Tim Cook thanked his customers for their patience saying the company is working "hard to build enough iPhone 5s for everyone."
Of course, that may be a little harder considering the news Mark told us about earlier today. Foxconn, a key manufacturer for Apple, .
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