China Goes GaGa for the Latest iPhone
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The Wall Street Journal reported on Monday that China Unicom Ltd. (NYSE: CHU) has exhausted its supply of Apple Inc.’s (NASDAQ: AAPL) iPhone 4 smartphone, as consumer demand in the world’s most population explodes for the popular device.
The sales of the iPhone 4 have started much faster than when older models of the device when on sale in China last year. Unicom said that it had received more than 200,000 preorders for the handset by early Saturday, while more than 40,000 consumers picked up the phone bundled with a service plan that day.
When Unicom released the iPhone on its network last year, it sold only 100,000 units in the first six weeks of availability starting last October. Unicom is the exclusive provider of the iPhone in China as it looks to expand its 3G subscriber base.
The iPhone 4 came to China three months after its introduction in the U.S., while it took 28 months for the first iPhone to come to China after it was released in the U.S.
Apple also brought the iPad tablet computer to China earlier this month as it looks to expand its presence in the country, while opening two additional retail stores in the country over the weekend. Apple plans to add a total of 25 stores in China by the end of next year.
Shares of Apple are up 49 cents to $292.81 in midday market movement on Monday, while hitting a new all-time high earlier in the session at $294.73.
The sales of the iPhone 4 have started much faster than when older models of the device when on sale in China last year. Unicom said that it had received more than 200,000 preorders for the handset by early Saturday, while more than 40,000 consumers picked up the phone bundled with a service plan that day.
When Unicom released the iPhone on its network last year, it sold only 100,000 units in the first six weeks of availability starting last October. Unicom is the exclusive provider of the iPhone in China as it looks to expand its 3G subscriber base.
The iPhone 4 came to China three months after its introduction in the U.S., while it took 28 months for the first iPhone to come to China after it was released in the U.S.
Apple also brought the iPad tablet computer to China earlier this month as it looks to expand its presence in the country, while opening two additional retail stores in the country over the weekend. Apple plans to add a total of 25 stores in China by the end of next year.
Shares of Apple are up 49 cents to $292.81 in midday market movement on Monday, while hitting a new all-time high earlier in the session at $294.73.
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