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 Analyst: 3 million iPhone 3G units sold in first month

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iMacoo7
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PostSubject: Analyst: 3 million iPhone 3G units sold in first month   Mon Aug 11, 2008 4:45 pm

"One month after its debut, Apple's new iPhone has hit the 3 million sold mark, according to analyst Michael Cote of the Cote Collaborative," Scott Moritz reports for Fortune.

"'They are seeing unprecedented demand,' says Cote, adding that there appears to be no signs of a let up yet. Cote, a former T-Mobile executive, has been extremely accurate with wireless predictions in the past," Moritz reports.

"An Apple spokesperson declined to comment on Cote's projections," Moritz reports.

"The blistering sales pace of Apple's new gadget defies the otherwise downward trends in consumer spending, employment levels and overall economic health. The 3 million figure is much higher than Wall Street analysts had anticipated. Forecasts called for total quarterly sales of three million to four million," Moritz reports. "Three days after the new iPhone's July 11 debut, Apple announced that it had sold 1 million iPhones."

"'The demand is so strong it may impact or delay the new countries coming on,' Cote says," Moritz reports. "That probably isn't the worst problem Apple could face."
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