iPhone mobile news

Demand for IPhone 5 Exceeds Supply

Apple booked 2 million orders for the new IPhone 5 in one day. This caused the company to push back many of its delivery dates although Apple indicated it would deliver most of the IPhones as promised on Friday.

This is not the first time Apple had sold out of one of its products on the first day. The company’s IPhone 4 set a previous one-day record of 600,000 units while the IPhone 4S broke that record when over I million orders were placed in a day.

The stock market acknowledged the sale of the IPhone 5 as a share of Apple stock went up 1 percent to $698.50 in early morning trading.

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