Sales of Apple's iPhone 4 hit 1.5
million in the first three days after its launch last week with 77% of sales iPhone upgrade deals, according to analysts’ estimates.
Apple has yet to release iPhone 4 sales figures but US
analysts have estimated that they exceeded sales of all previous
Apple sold one million
iPhone 3G units in the first weekend it went on sale in 2008 and one million
iPhone 3GS units in the first weekend of sales in 2009.
Oppenheimer tech analyst
Yair Reiner estimates 1.5 million handsets were sold in the first three days. He bases this estimate on the 600,000 devices pre-ordered
in the U.S, plus 100,000 non-reserved units sold at Apple stores, added to
50,000 sold into Best Buy and multiplied by two for international markets.
A straw poll of people queuing
for the iPhone 4 on Thursday by Piper Jaffray analyst Gene Munster revealed
that around 77% were iPhone owners upgrading to the latest version.
Munster wrote in a research note on Friday:
‘We spoke with 608 people in line for the iPhone 4 (Thursday) in San Francisco, Minneapolis,
and New York.
The bottom line: 77% of new iPhone buyers were existing iPhone owners
(upgrades), compared to 56% in 2009, and 38 percent in 2008.
‘Apple is effectively
building a recurring revenue stream from a growing base of iPhone users that
upgrade to the newest version every year or two.’