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Telecom & Wireless

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

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By Douglas A. McIntyre Published
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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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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