iPhone 5 set sales records, stocks sink

Chelsea Ratterman

Editor-In- Chief

Graphic courtesy of mctcampus.com

Sales for the new Apple iPhone 5 skyrocketed past its predecessor’s sales with ease during the Aug. 21 weekend.

The iPhone 5 set sales records, selling 5 million iPhones within 3 days. The iPhone 4S sold 4 million its opening weekend.

Sales followed a pre-order marathon from consumers, who preordered two million phones within the 24-hour period after pre-sales opened. This also beat the numbers from the iPhone 4S debut, which only saw an estimated one million pre-orders in the same 24-hour time frame. Estimated dates for consumers who pre-ordered the phone was three to four weeks.

Apple CEO Tim Cook said in a statement released by Apple that “demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible.”

According to Cook, Apple sold out of its initial shipment of iPhones, but stores are still receiving regular shipments to meet demand and customers who order online will receive an estimated delivery date, averaging near the four week mark.

Campus response

Students on campus have been favorable toward the new phone.

“It is literally the lightest phone I have ever held, and with the A6 chip the Internet works so much faster. The better battery life, I don’t have to stress about how much of it I use,” Sarah Smith, an international business major, said, “with the built in qualities it literally makes me feel like I’m holding a Stark device. It’s that super!”

Market effects

Despite the large number, Apple stock fell slightly Aug. 24, due to the five million sales not reaching predictions by analysts of seven to eight million units. The high for Aug. 28 was at $695.12, and the US market closed with Apple at $690.79.

The sales number released by Apple did not include shipments that had not been signed for. Apple requires a signature on shipments for it to be considered a sale.

Foxconn Riots

One event that marred the end of Apple’s big weekend was the riots, involving some 79,000 workers, in the Chinese Foxconn manufacturing facility, which supplies parts for Apple and other electronic companies.

This plant, among others, has been under the microscope for its work practices, potentially involving 60- hour workweeks.

The cause of the riots is still under investigation. Rumors persisting say that the riots were caused by tension between workers from different provinces or a tiff with security guards.

The plant re-opened Tuesday after police calmed the area down.

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