Apple to Up iPhone Production - TheStreet

An unidentified source has told TheStreet.com that Apple will boost production of the iPhone following a recent price cut. Apple had originally planned to manufacture 1.7 million iPhones in the quarter ending in September and 1.54 million in fiscal Q1, ending December 31. According to the source, "That 1.54 million number is going up." On September 5, Apple surprised the marketplace by announcing a sharp price cut on the device, prompting speculation over weaker-than-expected sales. Then last week, Apple said it had sold its millionth iPhone, ahead of official forecasts, but later than the company expected. Apple revived flagging interest by pulling the 4-gigabyte iPhone from the market and slashing the price of the 8-gigabyte model 33% to $399. UBS analyst Ben Reitzes raised his iPhone sales estimate to approximately 3 million for the year from 2.3 million. "We believe that demand was stimulated almost immediately for the iPhone following the price cut...and that international partnerships should help sales next year," he wrote. Apple is expected to announce European telecom partners for the iPhone on Tuesday.

Sources: TheStreet.com
Commentary: IPhone Sales Hit 1M; Moving Toward 3G • Why a Million iPhone Sales In 74 Days Is Better Than You Think • Is Apple's Play to Grab a Bigger Market Share Working?
Stocks/ETFs to watch: AAPL. Competitors: MOT, NOK, RIMM, PALM. ETFs: IAH, OTR, QQQQ, QLD
Earnings call transcript: Apple F3Q07

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Comments

[Dan Poarch:]

"Apple said it had sold its millionth iPhone, ahead of official forecasts, but later than the company expected."

I thought it was pretty clear that Apple intended to sell a million by the end of September. So, this line is wrong, no?

2007 Sep 18 03:21 PM