Business, Economics and Jobs

iPad sales break 3 million in 3 days


Boxes of the new 'iPad mini' on the morning of the tablet's launch in the Apple Store in Covent Garden on Nov. 2, 2012 in London, England. Customers queued outside Apple Stores around the world to be the first to purchase the new, smaller iPad tablet computer.


Oli Scarff

Apple announced Monday it sold over 3 million iPad's over the iPad Mini's debut weekend. 

"We set a new launch weekend record and practically sold out of iPad Minis," Apple CEO Tim Cook said in a Monday statement. "We're working hard to build more quickly to meet the incredible demand."

Apple did not say how many iPad Mini's were sold compared to iPads. Analysts provided their estimates. 

CNBC said Analyst Gene Munster of Piper Jaffray estimated "about 2.5 million sold were minis, blowing past his prediction of 1.5 million for the launch weekend. He left his holiday quarter iPad revenue estimate unchanged at $12.6 billion." 

Brian Marshall of the ISI Group told ComputerWorld, "We estimate that two-thirds, or 2 million plus, of the units [were] iPad Minis."

ComputerWorld also cited Brian White, an analyst with Topeka Capital, which conducted exit survey in New York City.

"During our exit Survey in New York City, we found the 16GB iPad Mini was the most popular of the three models, accounting for 53% of respondents, followed by 26% for 32GB and 21% for 64GB. One of the reasons that consumers are interested in the iPad Mini is [to get] a quality iPad experience but at a lower price point, which naturally drives the strongest demand for the 16GB Wi-Fi iPad mini."

On Monday, Apple was trading at $582.61, up $5.81, according to RTT News. They also said Apple had, since 2010, sold 100 million iPads.