Apple's latest iPhone 5 has sold over five million units since its release on 12 September, however Apple is struggling with supplying stores with more units. According to CNet, this shortage of iPhone units is due to the phone's new display technology.
Apple depends on two companies- Sharp and LG Display, to produce its display screens. The latest display combines in-cell touch sensing technology, whereas the display of the 4S had a separate touch-screen and separate display screen. The two companies say the new technology of the iPhone 5 display has posed challenges for a speedy production. In addition, the new display costs seven dollars more than that of its predecessors. The new display costs the company $44 per piece, while the 4S cost $34.
On Monday, Apple stocks slipped to $9.30 or 1.3 percent, this mainly because analysts had predicted that Apple would sell ten million units, while others speculated at least six million units to be sold. This did not happen; Apple sold only five million units.
But this is no small deal, according to Forbes.com, "the supposedly disappointing 5 million in iPhone 5 sales in a weekend is more than Nokia sold of its latest Lumia smartphones in an entire quarter. So Apple is hardly losing much ground to competitors."
Over the weekend, Apple aficionados crowded Apple stores across the country to purchase the company's much awaited smartphone. The iPhone 5 went on shelves on 21 September. According to reports Apple sold two million units with 24 hours of its launch on September 12, and analysts say that phone could sell ten million pieces by the end of this month.
So great is the demand for the new generation smartphone that Apple has said that it cannot ship inventory till September 28. The iPhone 5 has sold out double that of its predecessor
The highly awaited iPhone 5 was launched on September 12 by Apple Inc. in San Francisco, after months of anticipation, CEO Tim Cook and vice president of marketing Phil Schiller announced at Yerba Buena Center for the Arts Theater in San Francisco Apple's latest smartphone - the iPhone 5. Schiller told a room full of people, "It's an absolute jewel," as reported by Fox News.
Apple's rival Samsung Electronics Co. might see a drastic change from early September's sales reported which indicated that the South Korean company's latest smartphone Galaxy S3 outsold Apple's iPhone S4. According to the report, over 20 million the Galaxy S3 was sold worldwide in less than three months. Within the first month of its release, the flagship smartphone powered the Android operation system out beat Apple's iPhone S4 in sales with all major US mobile carriers: Verizon, AT&T, Sprint and T Mobile.
Samsung Electronics Co. is currently struggling to keep their other products on the market as a result of Apple's injunction against eight Samsung products upon winning a patent infringement case earlier this month. A jury in San Jose, California ruled that Samsung should pay $1.05 billion to Apple for copying some of the company's patented designs. Samsung is adamant on reversing the ruling and will be appealing the decision.
Now that Apple has launched the iPhone 5, all eyes are turned to Apple's next big launch - iPad Mini. On September 12 Apple's CEO Tim Cook and vice president of marketing Phil Schiller announced at Yerba Buena Center for the Arts Theater in San Francisco Apple's latest smartphone - the iPhone 5. But there was no mention of the iPad Mini, which was rumored to be launched alongside the iPhone 5. Now the whispers on the corridor suggest that Apple plans to reveal the much awaited tablet in October.
RELATED ARTICLES:
iPhone 5: Verizon iPhone Gets Access to AT&T Network
iPhone 5 Release Date Finally Here: Sales to Boost U.S. Economy by $3.2 Billion Says J.P. Morgan
iPhone 5: Apple Stocks Reach New High $700 as iPhone 5 Sells Double of iPhone 4S
