Demand for new iPhone outstrips forecasts
Apple Inc said that advance orders of its new iPhones were on pace to beat the 10 million units the previous versions logged in their first weekend last year, a feat that analysts attributed to the inclusion of sales from China.
The Chinese debut of the prior models, the iPhone 6 and 6 Plus, was delayed last year as the company awaited approval from regulators. Many analysts say China is poised to overtake the United States as Apple's biggest market.
Searching for signs of whether Apple can top its 2014 performance, investors were initially encouraged by the company's remarks but later tempered their enthusiasm. Apple shares were up 0.7pc in afternoon trading after rising as much as 2.3pc earlier in the session.
Apple did not disclose the specific number of advance orders it received for the new iPhone 6S and 6S Plus. Analysts had expected about 4.5 million for the first 24 hours, compared with 4 million during the first day last year.
Apple began taking pre-orders on Saturday for the phones, which will begin shipping on September 25.
The company yesterday said it was working to catch up to demand for the iPhone 6S Plus, the larger of the two new phones, which exceeded its forecasts. (Reuters)