A storekeeper introduces iPhones to customers near an iPhone 5 advertisement at an Apple products shop in Dongyang, in eastern China's Zhejiang province, Friday.
ASSOCIATED PRESS Enlarge
NEW YORK — Apple said today that it sold more than 2 million iPhone 5s in China in their first three days of availability, setting a record for that market.
IPhone 5, which launched in China on Friday, will be available in more than 100 countries by the end of December.
The phone first went on sale on Sept. 21 in the U.S., Germany, France, Japan and five other countries, with more than 5 million of the phones sold in the first three days.
That sales tally also set a record, but only beat last year's iPhone 4S launch by a small margin, falling short of some analysts’ expectations. Apple shares hit an all-time high of $705.07 that day, but in the months since the stock has plunged about 28 percent.
Also on Sunday, Citi analyst Glen Yeung cut his rating for the Cupertino, Calif.-based company to “Neutral” from “Buy,” questioning the strength of iPhone 5 demand and saying that it's unlikely Apple shares will rally any time soon.
Apple Inc. shares fell $6.85 to $502.94 in premarket trading today.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.