“Apple Inc. said it sold 3 million units of its iPad mini and fourth-generation iPad during the debut weekend, a sign that the new devices can help the company withstand accelerating competition in the tablet market,” Adam Satariano reports for Bloomberg.
“Apple began selling the 7.9-inch tablet in the U.S. and more than 30 other countries on Nov. 2, ramping up an effort to fend off competition in the market for tablets, which NPD DisplaySearch predicts will more than double to $162 billion by 2017,” Satariano reports. “‘We estimate at least two-thirds of the units are iPad minis,’ Brian Marshall, an analyst at ISI Group, wrote in a research report today.””
“New Yorkers looking to buy the latest iPad had fewer stores to shop in after Hurricane Sandy resulted in power blackouts and hobbled transportation. Apple closed two of its five New York stores as well as some in New Jersey because of the damage. Even so, the 5th Avenue store sold out within a few hours after almost 600 customers lined up, according to Brian White, an analyst at Topeka Capital Markets,” Satariano reports. “People who ordered online are experiencing delays. Shipments for the iPad mini are held up about two weeks, according to Apple’s website. The company doesn’t report orders made from the website until they are delivered, according to regulatory filings. The first models on sale worked only with a Wi-Fi wireless connection, with versions that connect to the data networks of phone carriers coming about two weeks later, Apple said.”
Read more in the full article here.
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