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270,000 iPhones sold, 1m target by end of Q4

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By Charles Starrett

Contributing Editor
Published: Wednesday, July 25, 2007
News Categories: Apple

In its reporting of third quarter results, Apple has revealed that it sold 270,000 iPhones over the launch period of June 29 and June 30. This falls slightly short of analysts’ predictions of 300K units, but should reassure those who questioned the success of the product’s launch following AT&T’s statement that it had activated only 146,000 iPhones during the same period. In addition, Apple CEO Steve Jobs said, “iPhone is off to a great start—we hope to sell our one- millionth iPhone by the end of its first full quarter of sales.” Apple’s fourth quarter will end on Sept. 29.

Updated: During its third quarter conference call, Apple COO Tim Cook explained iPhone’s prospects as follows: “The starting gun has been fired and we’ve gotten off to a great start. However, our primary focus is not on initial sales. We’re focused on building a third great business for Apple… it won’t be easy because the competitors are large and entrenched… but the rewards are huge for Apple. Our next step is to begin selling the iPhone in Europe next quarter starting with a few major countries.” Additional expansion will take place in other European countries throughout 2008, and in Asia in 2008 as well.

Update 2: In response to an analyst’s question, Apple noted that the 270,000 iPhones “sold” figure also included iPhones in transit to AT&T stores during the initial 30-hour launch window, and not just iPhones that were actually in consumers’ hands. In a subsequent exchange, the company noted that though it did not generally provide breakdowns of iPod and iPhone sales by capacity, “the mix skewed to the 8GB for early sales in June.”

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Comments

1

270,000 sold in just 30 hours isn’t too shabby at all.  Those saying the sales were bad yesterday were a bit premature obviously.

Posted by RC on July 25, 2007 at 2:24 PM (PDT)

2

Important note -

The actual number of iPhones sold is less that 270,000.  The report included “TTL 270,000 iPhones and Apple-branded and third-party iPhone accessories”.  Including acesories hides how many iPhone were actually sold.

Lets say there was a 30% conversion rate for accessories (pretty standard by apple standards as shown with the iPod) and you have 189,000 iPhones sold and 81,000 accessories sold.

189,000 iPhones is a great number but short of wallsteet estimates and more in line with the activation numbers of ATT.

I am an Apple fanboy that is why I read ilounge.  I am just pointing out what our stock buying friends will say.

Posted by evets sboj on July 25, 2007 at 2:28 PM (PDT)

3

Lower the price $200 and I’ll buy one. Until then, I’m not touching it.

Posted by s on July 25, 2007 at 2:28 PM (PDT)

4

It amazes me when I read that iphone sales were “not as analyst expected”

270,000 of anything is quite alot, especially at 500-600 bucks each.

Analyst should lower their estimates that way they can say that 270,000 exceeded expectations. Analyst are a waste of space!

Posted by unreal on July 25, 2007 at 2:48 PM (PDT)

5

270,000 is good and it will get better .... just like the IPod it will grow and grow .. and g r o w

Posted by dennis on July 25, 2007 at 6:13 PM (PDT)

6

If you average the price of the 4gb and the 8gb and then multiply by 270,000 you get a figure of over 148 million dollars. That’s not shabby at all.

Posted by Matthew on July 25, 2007 at 6:38 PM (PDT)

7

No, 270,000 iPhones sold is the official number according to Apple CFO Peter Oppenheimer.  He repeated this several times during the conference call.  That total does NOT include accessories.  Only the revenue totals in the report include accessories, not the unit totals.

Posted by lancetx on July 25, 2007 at 7:14 PM (PDT)

8

$200? Seriously? That’s absurd. This device is worth every cent of $600. You show me any other device even close to this features-wise that has a price tag of $200.

Good luck.

Posted by thelottery on July 26, 2007 at 5:26 AM (PDT)

9

Lancetx, the analysis above is correct and has been looked at by several others.  Standard accounting practice insists that the line items match the descriptor.  If Apple inteneded to show 270K iphones sold than they did not show the accessories.

Peter O, as usual with Apple, put on the reality distortion field.  This was planned (no eveil conspiracy though).  Corps ususally use vagaries to mask performance.

I still ove apple, great product, go iPhone.

Posted by JackT on July 26, 2007 at 7:57 AM (PDT)

10

Please. Apple does the exact same thing when they account for the iPod, and the unit totals for the iPod most certainly does not include accessories either.

You can personally choose to believe that they actually sold 270K iPhones or not, but the CFO of the company would most certainly not “put on the reality distortion field” regarding actual unit sales numbers during a conference call.  It would be highly illegal for him to do so for starters.  And Wall Street seems to believe him as well quite obviously based on how the stock is doing today.

Posted by Rob on July 26, 2007 at 8:46 AM (PDT)

11

Rob, Rob, Rob,.....

Did you read the data summary? Go to the investors section of Apples website and download it.

The iPod sales and accessories are two different line items.  Ipod sales are #4, #5 is the acessories (you will note in the footnote that this is listed as “Consists of iTunes Store sales, iPod services, and Apple-branded and third-party iPod accessories”. The important part here is line #6 that combines both iPhone and Accessories explicitly.

So the number is less that 270,000 and if you listen to the call the CFO uses vagaries to assert the 270K number. Distortion field in full effect.

Finally, the price movment is due to headlines and not the details.  All most invetsors heard today was 270K iPhones sold.

Posted by JackT on July 26, 2007 at 9:46 AM (PDT)

12

So, Apple put an overly optimistic and somewhat deceptive spin on that 270,000 figure, after all. I mean, product can’t really be considered sold if it’s still in transit to the retailer.

Still…what Sony wouldn’t do if THEY could only move half that many PS3s in the same amount of time.

Posted by flatline response on July 27, 2007 at 10:16 PM (PDT)

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