It's been a little over two weeks now since Apple launched the
iPhone 5. Since the device went up for
pre-order on September 14, it has been quite a frenzy. There were
2 million pre-orders in the first 24 hours, that's more than double the previous record of one million held by iPhone 4S.
But the very same day, the overwhelming response forced the company to push back some iPhone 5 orders by
2 weeks. And five days later, the iPhone 5 pre-order delivery estimates were pushed back
3 to 4 weeks as seen on Apple's online store.
Demand for Apple's latest flagship device continue to remain heavy, but the supply is really low at the moment, not only as seen on Apple's online store but as well as Apple Stores across the globe reporting stock shortages.
All Things D reports that according to Gene Munster over at Piper Jaffray, an Investment bank and asset management firm, the supply of iPhone 5 is "extremely limited." His conclusion is based on a survey conducted across 100 U.S. Apple Stores over the past week. Based on this conclusion, Gunster has chopped down his iPhone 5 forecast for September from 27.2 million units to 25 million units.
Could the upcoming holiday season bring some respite? Munster believes that Apple will be able to catch up by December and put a smile on the faces of investors.
"While the supply issues for the iPhone 5 since launch are concerning in terms of the company's ability to fully meet demand in December, we are staying with our 49 million unit estimate for the holiday quarter."Apple has promised that the iPhone 5 will roll out to 100 countries within this year, but the situation looks bleak and one wonders if this demand will delay that rollout. Even if Apple keeps its promise, it may have to compromise on the number of units available in most countries possible.
What does this mean for you? Well, you'll have to wait a bit longer before you get your hands on a new iPhone. The estimated shipping timeline for online orders continue to remain 3 to 4 weeks away.
So why is is this happening? Jeffries analyst Peter Misek explains:
"Remember, there are 170 million post paid subscribers coming off contract. That's overwhelming all supply ramps. The demand here is unprecedented."In places like Hong Kong, Apple resorted to a
lottery system with the iPhone 5 being
smuggled into China due to scarce supply, which in turn allowed the
grey market to flourish on the doorstep of Hong Kong's Apple store.
Unboxing the iPhone 5