Apple Sells 1.7 Million iPhones In Three Days, Most Successful Product Launch

Analysts wondered if Apple Inc had sold 1 million iPhones on its first day on sales. Probably so, because the company has announced that it sold 1.7 million units in the first three days the product was on the market.

It is, according to the company, the most successful product launch in Apple’s history and virtually guarantees that the firm will post revenue and earnings well above estimates for the second half of 2010. Analyst estimate that the iPad will add $3 billion to Apple’s sales this year. The new iPhone4 could add at least that much.

Analyst consensus estimates for revenue in the fiscal year ending September 30 will be $60 billion and earnings per share will be $13.67. The actual numbers could be 10% greater.Apple’s statement:

Apple® today announced that it has sold over 1.7 million of its iPhone® 4 through Saturday, June 26, just three days after its launch on June 24. The new iPhone 4 features FaceTime®, which makes video calling as easy as one tap, and Apple’s new Retina display, the highest resolution display ever built into a phone, resulting in stunning text, images and video.

“This is the most successful product launch in Apple’s history,” said Steve Jobs, Apple’s CEO. “Even so, we apologize to those customers who were turned away because we did not have enough supply.”

Douglas A. McIntyre