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September 25, 2012

iPhone 5 Sales Fall Short of 10M Prediction

Predictions Apple would sell 10 million iPhone 5s during its debut weekend fell well short of the mark despite long line-ups at stores around the globe.

The company sold a little more than five million devices but failed to meet expectations due to supply constraints. Demand for the new handset exceeded the initial supply, Apple said in statement Sept. 24.

Still, five million-plus sales in three days exceeds a record set in 2011 by the iPhone 4S, Apple said. Sales began in the U.S., Canada, Australia, Japan, Hong Kong, Singapore, Germany, France and Britain with record crowds turning up to snag a new phone.

While Apple’s figure includes sales from wireless carriers, retailers, Apple stores and online orders customers have already received, it does not include online orders that have yet to be delivered.

On Sept. 17, the company said its online orders exceeded two million in one day.

“While the majority of pre-orders have been shipped to customers, many are scheduled to be shipped in October,” an Apple spokesman said in a statement Sept. 24.

“Demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible,” said Tim Cook, Apple’s chief executive officer, in the statement. “While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date.”

Sales from the weekend will be included in Apple’s financial results for the fiscal fourth quarter, which ends Sept. 30.

Demand for the iPhone 5, with its larger screen and faster wireless speeds, gives Apple a leg up on its competition, namely Samsung Electronics that use Google’s Android mobile software.