Apple announces nine million iPhones sold in first week

Apple has announced that it has sold nine million new iPhones since their Friday release (release). Apple also say that 200m users are now running the latest iteration of Apple's mobile operating system - iOS 7.

“This is our best iPhone launch yet―more than nine million new iPhones sold―a new record for first weekend sales,” said Tim Cook, Apple’s CEO. “The demand for the new iPhones has been incredible, and while we’ve sold out of our initial supply of iPhone 5s, stores continue to receive new iPhone shipments regularly. We appreciate everyone’s patience and are working hard to build enough new iPhones for everyone.”

That blows expectations out of the water. The release of the iPhone 5 saw five million sales in its opening weekend. Given this release saw two new phones out, but it's still a much healthier number than the 5-7.75m range expected by analysts.

Now analysts are re-evaluating, and suggest that things may now finally be turning around for the flagging tech giant. David Jones, IG's chief market strategist, says that "investors feel the worst of the slide over the last 12 months could well be over".

Now the company expects revenue for the fourth fiscal quarter near the high end of its $34-£37bn (£21.2-23bn) range. Apple shares have risen by over four per cent on the good news.

William Power, an analyst at Baird suggests that stock of iPhone 5s units "may remain tight for several weeks, with gold-colored units likely remaining difficult to find through late October".

Baird had estimated that Apple would sell just seven million devices this weekend. Power says that they now see total iPhone shipments of 51.6m in the first quarter of 2014.