Apple sold more than 5 million iPhone 5 phones since the highly anticipated device went on sale on Friday, setting a new sales record for the device, Apple announced Monday.
Over the weekend, the company outpaced the 4 million iPhone 4S units that it sold during last year's opening weekend, though the numbers are a bit skewed. This year's iPhone was simultaneously launched in the United States, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the United Kingdom, while last year's launch did not include Hong Kong and Singapore. Investors viewed the iPhone 5's opening weekend as somewhat of a disappointment. Wall Street analysts had anticipated a slightly more robust opening weekend, with most projections in the 6 million range. Share of Apple (AAPL, Fortune 500) fell 1% in early trading.
5,000,000 x $300 (avg. retail) = $1,500,000,000
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