China Unicom Signs Up a Disappointing 5K iPhone Users in 4 Days Since Launch -Piper Jaffray
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According to reports from early this morning, China Unicom (NYSE: CHU) signed up just 5,000 iPhone users in the first four days since the Apple (Nasdaq: AAPL) device launched in China on Friday of last week (October 30). In light of the seemingly weak numbers, shares of Apple are down about 0.5% to $188.26 today.
Commenting on the news, Piper Jaffray's Gene Munster called the figure "soft" and noted that while the firm did not have an estimate for the launch period, based on the US launch, he would have expected units of about 30,000.
Despite the disappointing data, Piper remains confident in its 9.3 million iPhone unit estimate for Q1 and its 36 million unit estimate for 2010. The firm said "...this data point removes the potential for significant iPhone unit upside in the December quarter."
To see all the analyst comments on shares of Apple, visit our Analyst Ratings page.
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