5 mil iPhone 5 sold in release weekend

Apple sold record number of iPhone 5s, more than 5 million, in the release weekend. Although the sales number is about a million more than iPhone 4S sold in the release weekend, it is less than the predictions of analysts.

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Apple shares reached an all time high of $705.07 on Friday (on the day iPhone went on sale in nine countries including the US, Japan, Germany, France) and fell 1.3 percent, to close at $690.79 on Monday.

Analysts had predicted the sales of 6 million to 6.5 million new iPhone 5s to be sold in the release weekend. The sales shortfall is caused because of the limited supply of iPhones.

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