This weekend was supposed to represent the most astonishing success story in the history of Apple and the Smartphone industry as a whole. The iPhone 5 was earmarked for immediate greatness on a never before seen level, with sales estimations for its first 24 hours alone having been entirely off the scale.
Instead however, proceedings were disappointingly marred by the iPhone 5’s inability to come close to such lofty sales expectations, while a mass brawl at one of Apple’s key assembly partners once again brought up questions as to working conditions at Foxconn.
As expected, Apple enjoyed a stupendously successful weekend with the iPhone 5 eclipsing all existing company sales records with an impressive 5 million sales. Unfortunately however, this fell massively short of the approximate 10 million unit sales analysts had expected the iPhone 5 to achieve in its first 72 hours.
Despite the indisputable success of the iPhone 5 when compared to any other Smartphone in history, its inability to live up the hype saw Apple’s share value tumble 1.3% to $690.79 during trading on Monday.
One of the key factors cited for considerably lower-than-expected iPhone 5 sales is that of supply simply not being able to keep up with demand. Within a few hours of the sixth-generation iPhone going on sale, the vast majority of Apple Stores and third-party retailers had exhausted their stocks – the 16GB version having proved the favorite with consumers.
Even a full 48 hours after its launch, the iPhone 5 still drew in crowds large enough to see city streets swarming with queues and mobs late into Sunday evening. Certain third-party retailer expressed their distain long in advance, having been issued with as few as 20 iPhone 5s to sell to the public.
Responding to the apparent lack of supply on a national basis, Apple CEO Tim Cook spoke n Monday to confirm that the company is “working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible.”
“While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date. We appreciate everyone’s patience and are working hard to build enough iPhone 5s for everyone,” he told the press.
Despite having already fallen massively short of targets however, industry analysts remain confident that the iPhone 5’s success story is only just beginning. With the holiday buying frenzy yet to kick into high gear, sales of the new iPhone are expected to run circles around those of each and every Android rival on the market, while at the same time eclipsing the success of the iPhone 4S.
Disappointing iPhone 5 sales were however only half of Apple’s headaches over the weekend, as a mass brawl involving 2,000 Foxconn employees once again called into question the general working and living conditions of Apple’s main assembly partner. The exact cause and circumstances of the incident which left 40 needing hospital treatment is unknown, though is said to have originated from a personal dispute which quickly escalated out of control.