Apple Sells 1.7M iPhone 4 Units in 3 Days

Apple Inc. (AAPL) said Monday that it had sold 1.7 million units of the new iPhone 4 through Saturday June 26, admitting that demand has outstripped available supply for the wireless device.

Reaffirming its dominance in the smartphone business, Chief Executive Steve Jobs apologized to customers who were turned away following the initial June 24 sales date.

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

The strong start of Apple’s fourth-generation phone has surpassed the early performance for the last version of the iPhone. Last summer, Apple sold 1 million of its iPhone 3G devices over the opening weekend.

Shares of Apple, which overtook Microsoft’s (MSFT) market cap a month ago, gained $1.02, or 0.39%, to $267.83 at 1:56 E.T. in Nasdaq trading.

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About Ari Haruni 143 Articles
Ari Haruni is the Co-Founder & CEO of Wall Street Pit.

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