In case the completely obvious wasn’t all that obvious, Piper Jaffray analyst Gene Munster released a report to clients that Apple was still selling iPhones at a higher-than-expected level, following the September 5 price cuts. The 33% price cut heard ’round the world was followed by a 300% increase in iPhone sales, but it seems to have died down to around a 70%-100% increase, compared to the pre-price-drop demand. Analysts had predicted that increased demand would stabilize to a sustained 50% increase over previous demand. Munster expects Apple to sell 1.05 million iPhones by the end of September.
Is it really surprising that cutting the price of the (arguably) most desirable phone to launch in the US was followed by feverish sales? Considering the spend-happy culture that is American society, we think it makes a lot of sense. Afterall, the iPhone is going to be a staple of many Christmas wishlists this year.
[Via: MacDailyNews]