Piper Jaffray is estimating that Apple Inc. (NASDAQ:AAPL) has sold about 5 million iPhone 3Gs during the current quarter. In the opening weekend alone, about 20% (1 million) of this estimate was sold. Apple will release the formal number of total sold iPhones next month when they report 4th quarter earnings.
Apple hopes to sell 10 million iPhones 3Gs by the end of 2008. The holiday season is expected to help surge the sales of Apple’s new product line. The 3G is selling faster than the original iPhone because of the price and because of it’s availability in many other countries. Another reason why the iPhone sold more units is because the App Store was launched in July 2008. This gave developers an incentive to find a new way to make money.
The original iPhone sold about 2.5 million units in the first 6 months. Though it is ambitious, Apple’s goal for selling 10 million iPhones by the end of 2008 may be hindered by the release of the Google Inc. (NASDAQ:GOOG) Android-powered phones at the end of October.