Analyst: 60% of Apple Stores Sold Out of iPhone 4 By Thursday

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The iPhone 4 was selling like the proverbial hotcakes during the first days the iconic handset was available to consumers, one analyst told investors Monday. Indeed, on June 24, when the new phone went on sale, 60 percent of Apple Stores and all participating retailers had no stock left by the end of the day.

“We believe initial weekend volumes were 1 million plus,” Deutsche Bank analyst Chris Whitmore wrote Monday. “But shipments could have been dramatically higher if there was more supply,” he added. Apple announced Monday it sold more than 1.7 million iPhone 3 units between Thursday and the end of Saturday, June 26.


Whitmore, who stood in a San Francisco, Calif. line for almost four hours, downplayed reports of various flaws in the iPhone, including antenna-related connection trouble due to the way the iPhone 4 is held.

“Contrary to blog postings of calls being dropped we found AT&T cellular service on Friday was roughly same as pre-iPhone 4 coverage and we had no problems with the new external antenna,” he said.

The analyst calls the growing number of iOS devices, couples with the iTunes/App store “the competitive moat which competing handset vendors cannot replicate.” While Apple has around 235,000 apps with more than 5 billion apps downloaded in June, there are 61,000 Android apps and 8,000 Blackberry Apps.

[via Fortune]