What economic blues? Consumers are queuing up in a frenzy to get their 3G iPhones; even better, people sold their place in line for 60 dollars or more. Is this crazy?? Going to such lengths for a phone which just allows a user to access the web more quickly than its predecessor…
Apple announced sales of 1 million iPhone 3Gs in the first three days, and 10 million applications downloaded. The phenomenal sales across 21 countries is a testament to Apple’s iPhone dominant global reach.
Considering the economic doldrums, I have to applaud the pace at which Apple conquered the 1 million mark. Even its first generation iPhone (2G model) which was launched in the US on June 2007 didn’t do so well, Apple only announced the milestone 79 days later.
Nobody doubt Apple is a serious player in the smartphone industry. Its sales will have been even more jaw-dropping if customers had not experienced a technical glitch.
Activation of their new devices was interrupted after the Apple servers crashed from the demand and did not allow users to download a new version of iTunes, the software through which the iPhone connects to an owner’s computer.
As investors, we can seek solace in the fact that poor consumer sentiment still gave way to pent-up demand for non-essential, feel-good digital/lifestyle products. The situation may not be as depressing after all.