“After months of anticipation for the ‘official’ iPhone release in China, the news last week was not so exciting: only 5,000 iPhones sold over the first weekend,” Apple Investor News‘ Frank Cioffi writes for MarketWatch.
MacDailyNews Take: By whose count? Not Apple’s or China Unicom’s from what we can tell.
Cioffi continues, “Even the typically bullish, and usually correct, Gene Munster of Piper Jaffray called this ‘a disappointment’ and lowered his China 2010 iPhone sales forecast from a range of 1 million to 2 million to 550,000.”
“What does this news really say about the prospects for iPhone growth in China and worldwide? Not much,” Cioffi writes.
1. Apple Inc. is already profiting in China from gray market iPhone sales. In fact, the China Market Consulting Group estimates that 3.5 million Chinese already owned unlocked iPhones prior to last week’s launch.
2. Apple’s carrier limitations, for China and elsewhere, are temporary and will resolve themselves.
3. The iPhone is just getting started, with new models and technologies coming.
Cioffi writes, “Last week’s China ‘disappointment’ was a short term blip in the long term growth prospects for one of the dominant technology products of the decade.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]