March 14, 2011
Piper Jaffray analyst Gene Munster estimates between 400,000 and 500,000 iPad 2’s were sold in its first weekend, according to the UK’s Telegraph. This compares to 300,000 original iPads sold in its first weekend in April 2010. Confirming Piper Jaffray’s numbers, Deutsche Bank’s Chris Whitmore calls it “one of Apple’s most successful product launches to date.” In a survey of 236 potential buyers, Munster found 70 percent of iPad 2 buyers were new to the iPad. This compared to just 23 percent of iPhone 4 buyers who said the same thing when that product launched in June 2010. This is significant in that it shows Apple is expanding its base of iPad users, which is critical in its quest to retain the lead in the growing tablet market. However, at least in the short term, those numbers will only grow so much. For those that don’t own an iPad 2, or ordered one earlier online, you are out of luck. It appears most of the iPad 2 inventories are now exhausted. Apple has yet to confirm these numbers.