Apple Inc.(NASDAQ:AAPL) is on the edge of setting a record with its latest iPhone 5. It may not be able to cope up with the surging demand as customers are lined up from Sydney to New York to pick up the latest smartphone model.
The iPhone 5 has reached the shelves of stores in 8 countries, lending Australian customer the first chance to purchase the device. The others in line were Japan, Singapore, France, the UK, Hong Kong, Germany, the US and Canada. The device is praiced at $199, $299 and $399 in the US, depending on the memory.
A 21 year old student from New York, Pedro Mendez got in line at the flagship store of Apple on 18th September just to ensure that he would receive the new smartphone. He plans on selling his iPhone 4S to a friend.
The crowds highlight estimates from analysts that the iPhone will be the largest consumer-electronic debut in the history. As per Gene Muster, an analyst at Piper Jaffray Cos, Apple is likely to sell about 10 million iPhone 5s during the weekend sales rush. As Apple’s two-thirds of profit comes from the iPhone.
Principal research scientist at Massachusetts Institute of Technology’s Center for Digital Business, Andrew McAfee, things have changed from how it used to be before. It is not only the nerds anymore. Even cool kids are obsessed with latest gadgets and devices.
Apple may face problem in keeping up with initial demand owing to shortage of components. The company already had to push out some deliveries to October after online purchases reached a new height of 2 million within 24 hours. It is double the record that was set last year with iPhone 4S.
Apple is planning on introducing the iPhone across the globe faster compared to its predecessors.