Monday Apple Rumors: 2M iPhone 5s Sold in China in 72 Hours

A reservation system limited crowds outside Apple Stores

daily apple rumors AAPLHere are your Apple rumors and AAPL news items for today:

Big Debut: Apple (NASDAQ:AAPL) sold more than two million iPhone 5s within the first three days of the latest-generation iPhone hitting store shelves in China, Reuters notes. The iPhone 5 debuted in the U.S. on September 21, but only landed in China on Friday. It will be available in 100 countries around the world by the end of this month. Some observers had noted a lack of lines in front of Apple’s Chinese stores on Friday, in contrast to earlier product launches. However, the company had implemented a reservation system that restricted sales to reservation holders only in order to prevent unruly crowds, like those that damaged its Beijing store during the iPhone 4S launch last year. In China, the iPhone is available on wireless carriers China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA), but has yet to appear on China Mobile (NYSE:CHL), the world’s largest wireless carrier.

6 Myths About Apple Stock for Investors to Weigh
6 Myths About Apple Stock for Investors to Weigh

Cleared: The U.S. International Trade Commission (ITC) has ruled that Apple did not infringe on technology patents held by X2Y Attenuators, the Wall Street Journal noted. The ITC judge also cleared co-defendants Hewlett-Packard (NYSE:HPQ) and Intel (NASDAQ:INTC) and ruled that the patents claimed by X2Y were invalid. X2Y sued in 2011 over alleged violations of patents covering energy conditioning on various Intel processors found in Apple and HP computers. X2Y had requested an import ban on the affected machines unless Intel agreed to pay licensing fees for the technology. X2Y said it would request a review of the ruling.

Lesser Cannibal: A survey conducted by Morgan Stanley (NYSE:MS) and AlphaWise finds that 47% of iPad Mini purchasers are first-time iPad buyers, AppleInsider notes. The survey which questioned 1,000 U.S. consumers, found that the iPad Mini is cannibalizing standard-size iPad sales to a lesser extent than some had feared. In the survey, iPad Minis comprised 34% of planned iPad purchases. Still, the iPad Mini drew fewer new iPad buyers than its larger-screen sibling. 56% of full-sized iPad buyers said they were new to the tablet. The survey also indicated that 81% of iPad owners planned to stay with Apple tablets. The iPad Mini debuted in October.

For more about the company, check out our previous Apple Rumors stories.

Article printed from InvestorPlace Media,

©2019 InvestorPlace Media, LLC