Apple to Sell Over 12 Million iPhone 3Gs in 2008
August 14, 2008
What's the new hot trend in tech analysis? iPhone projections! From Cote's estimates earlier this week that over 3 million iPhone 3Gs had already been sold, to a new report from Lehman Brothers.
Analyst Ben Reitzes of Lehman states:
We believe our estimate of 3.8 million iPhones sold in Apple’s [September quarter] is very conservative. Furthermore, we believe that initial demand overseas is very strong and will get much stronger; we estimate at least 8.3 million iPhones could be sold in [the December quarter].These "conservative estimates" would bring the total number of iPhones worldwide to nearly 20 million (6M 1st gens already sold) by the end of 2008. Even higher, Piper Jaffray's Gene Munster, who has closely been monitoring the iPhone since its introduction, believes 4.47 million iPhones will ship in this quarter alone (ending September 30th). The investment firm had to increase their estimates after recent analysis: "Our 25 hours of counting iPhone sales in Apple retail stores throughout the country lead us to believe Apple is on pace to beat our previous estimate of 4.1 million iPhones for the September quarter." Munster estimates that each of Apple's 188 stores sells an average of 95 iPhone 3Gs per day, compared to moving just 21 1st generation iPhones daily last August. Take into account that over 20 countries will begin selling the iPhone come August 22nd, and nearly 1000 Best Buy locations in the U.S. will begin carrying the 3G as well starting September 7th.