Apple sells 3 million iPad mini in three days

Apple sales of the WI-FI only models, 7-9 inch iPad mini and fourth generation 9.7 inch version are double of what the first week sales of Wi-FI iPad were in March, an Apple official stated on Monday. The newly launched crucial iPad mini, which is a smaller version of the original tablet has been designed to compete a segment dominated by Google Inc and Amazon Inc right now. However, the top Smartphone Company has not revealed the actual sales numbers as yet.

According to estimates given by the Analysts, nearly 2.3 million of all the new iPads sold over the weeks were the mini tablets, surpassing Apples’ expectations of $1 million to 1.5 million.

Wall Street was disappointed by Apples’ sales in first quarter of the year. According to sources, the retail Giant of American had been expecting the iPad mini for some time to boost demand during the vital holiday and Christmas season as competition reached a fever pitch.

Microsoft also jumped into the market last month with the new Windows driven Surface. While queues for Apple’s new product appeared to be lighter than expected, the company said the demand was so high that it had run out of stock.

“We set a new launch weekend record and practically sold out of iPad minis,” Apple Chief Executive Tim Cook said in a statement. “We’re working hard to build more quickly to meet the incredible demand.”

Never before, Apple has introduced two models of the same product in one season. Raymond James analyst Tavis McCourt claims that although the company has revealed some impressive numbers, it will have to sell another 20 million iPads to meet breakeven. In March, Apple had sold $3 million iPads (both cellular and Wi-Fi models).

“There’s still a lot of wood to chop in the quarter,” McCourt said.

“We believe the iPad mini has the opportunity to surpass the sales of the regular-sized iPads over the next several years,” said Topeka Capital analyst Brian White. (Reuters)

The holiday season sales will be crucial for the company.

Both Wi-Fi and cellular connections iPad are expected not to be shipped in the United States for next few weeks.

The iPad mini takes aim at Google’s Nexus 7 and Amazon’s Kindle Fire. At stores around the world, the product’s debut drew sparser crowds than previous launches did, dampening initial optimism for sales. Still, the mini attracted hundreds of people in many locations.

Short URL: https://www.newspakistan.pk/?p=34807

Posted by Syed Hassan Bokhari on Nov 7 2012. Filed under Latest News, Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.