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iPhone 7 Opening Weekend: T Mobile, Sprint Report Strong Demand

iPhone 7 Opening Weekend: T-Mobile, Sprint Report Strong Demand

By Reuters | Updated: 14 September 2016 09:57 IST

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Highlights

Sprint said pre-orders were up nearly four times, compared to last year
Pre-orders also rose nearly four times at T-Mobile
The companies did not disclose specific sales numbers

US wireless carriers Sprint Corp and T-Mobile US Inc said on Tuesday they received strong pre-orders for Apple's iPhone 7, sending shares of the world's most valuable listed company up 3 percent.

(Also see: iPhone 7, iPhone 7 Plus First Impressions)

Sprint said pre-orders were up nearly four times, compared to last year. Pre-orders also rose nearly four times at T-Mobile, compared with its next most popular iPhone.

However, the companies did not disclose specific sales numbers. Pre-orders started on Friday.

Details about sales of the new iPhone are scarce after Apple announced last week it would not release weekend sales data, saying the number was more a reflection of supply than demand.

(Also see: iPhone 7 Launch Event: 10 Big Announcements)

"While the iPhone 7 update is more revolutionary than evolutionary, we believe investors could consider these strong early pre-order indications as being reflective of the impact of Apple's significant iPhone installed base expansion over the past few years," Stifel analyst Aaron Rakers said in a note.

Rival carriers AT&T Inc and Verizon Communications Inc were not immediately available for comment.

Apple's shares were up 2.8 percent at $108.19 in morning trading. Up to Monday's close, they had fallen 2.1 percent since the iPhone 7 was launched on Wednesday.

(Also see: iPhone 7 and iPhone 7 Plus Camera: Top 7 Features)

© Thomson Reuters 2016