News Digest

Apple receives record 4m pre-orders for new iPhone 6 models in first 24 hours

Apple Inc said it received a record 4 million first-day pre-orders of its new iPhone 6 and iPhone 6 Plus, meaning many customers will have to wait until October for their new phones. Apple said a significant number of orders will be delivered to customers beginning Friday, but many will be shipped in October as demand outstrips supply. The first-day pre-orders for the new iPhones, which feature larger screens, were double the two million orders for iPhone 5 models in 2012.

We attribute this (pre-order numbers) to the large pent-up demand for larger screens on the iPhone.

Janney Capital Markets analysts

Analysts at Janney Capital Markets said raised its unit sales estimate for the latest iPhones to 37.4 million for the fourth quarter and 60 million for the first quarter. While Apple did not break out first-day pre-orders for iPhone 5Ss and 5Cs launched last year, it sold 9 million of those phones in the first three days in stores as China joined the list of launch countries for the first time. The company said the new iPhone models will be available to customers in its stores in the United States, Canada, Australia and some other countries on Friday morning.