Business, Economics and Jobs

iPhone 5 sales tripped up by overwhelming demand


The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts on Sept. 12, 2012 in San Francisco.


Justin Sullivan

Apple was forced to push back shipping dates on its new iPhone 5 due to overwhelming demand.

The company's latest incarnation of the popular smartphone sold out online in less than an hour after going on sale at 1 a.m. PT on Friday, technology blog CNET reported.

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Apple's US store, at, initially promised delivery by next Friday.

Now, the estimated shipping date is listed as "two weeks," according to Reuters.

The quick backtrack in delivery time suggests much stronger demand for the iPhone 5 than Apple expected, Topeka Capital Markets analyst Brian White told The Associated Press.

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One-week delivery of the iPhone 4S was still available into the afternoon of the first order day last year.

"Clearly, iPhone 5 fever is in full swing," White told the AP.

The three US carriers who will sell the iPhone 5, AT&T Inc, Verizon Communications Inc and Sprint Nextel Corp, continued to show availability for delivery next Friday, according to Reuters.

The new model will be available in its stores on that date, the Financial Times reported.