Apple shares jump on iPhone 5 launch

City A.M. Reporter
Apple released the eagerly-awaited iPhone 5 to large crowds today around the world, as its shares jumped in early trading.

The technology giant’s shares spiked 0.65 per cent in early trading on the Nasdaq, as Apple retail stores opened at 8am to long queues of shoppers.

Online pre-sale orders reached 2m in the first 24 hours, more than double those made for the iPhone 4S last year. The new model costs from £529 for the 16GB model up to £699 for the 64GB model.

Meanwhile, Samsung plans to add the iPhone 5 to its pending lawsuit against Apple for patent infringements. In a US District Court filing, the South Korean electronics maker said: “Based on information currently available, Samsung expects that the iPhone 5 will infringe the asserted Samsung patents-in-suit in the same way as the other accused iPhone models.”