Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

iPhone: Strong Sales Despite Frustrations


Steve Jobs said he would like to sell 10 million iPhones this year

Despite a technical meltdown that left thousands of customers unable to activate their new phones, sales of Apple's (AAPL) iPhone 3G have met analysts' expectations. Apple sold over 1 million phones in the weekend after their debut, according to Bloomberg.

While demand for the iPhone 3G remains high, Apple received low marks for execution: Apple's servers crashed not long after the phone's release, and customers -- many of whom waited all day in line -- were unable to activate service for hours. (Activation was supposed to take 15 minutes.)

The system-wide failure was one of very few in Apple's strong record of seamlessly rolling out new products: Last year, customers were able to complete activation of the first iPhones from their own homes. This time around, Apple and AT&T (T) required customers to activate their phones in-store, so as to ensure they would sign 2-year contracts.

Apple CEO Steve Jobs said he'd like to sell 10 million iPhones this year. Let's just hope he's got the bandwidth to handle it.

For more on Apple and Steve Jobs, check out Hoofy and Boo's always astute report.

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos