Apple (AAPL) iPhone SE First-Weekend Sales Lag Successors

Apple (Nasdaq: AAPL) shares are on watch as its latest product, the iPhone SE, isn't resonating with customers as well as some might have hoped.

Localytics said Monday that the iPhone SE has just 0.1% share of Apple's mobile phone ecosystem after just the first weekend of sales. The firm believes that the iPhone SE took market share away from the iPhone 5, which it most closely resembles. The iPhone 5 still retains about 7 percent of Apple iPhone share.

The iPhone SE also lagged in first-weekend sales compared with the iPhone 5S, and iPhone 6-series models.

There's really nothing about the iPhone SE that would attract early adopters; the device is geared more toward emerging markets as a way for Apple to offer a lower-cost smartphone in order to gain market share. Investors will be watching the metric closely as sales continue to ramp higher.

Shares of Apple are up over 1 percent Monday morning.

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