Apple Sells 3 Million New iPads and iPad Minis in First Weekend

Andrew Klips |

Apple Sells 3 Million New iPads and iPad Minis in First WeekendApple Inc. (AAPL) said Monday that it sold three million iPads since Friday’s debut of the new iPad mini and fourth generation iPad. The figures topped old sales records set in March of 1.5 million iPads sold in three days when the tech giant launched the third generation iPad. The company did not break-down sales for each product.

"We set a new launch weekend record and practically sold out of iPad minis," said Apple Chief Executive Officer Tim Cook. "We're working hard to build more quickly to meet the incredible demand."

According to the Apple website, orders placed now for the mini iPad will ship in two weeks.

The iPad mini and latest iPad both are currently only available in the Wi-Fi version, with the new 4G models expected to hit shelves in the United States in a matter of weeks. The iPad and its one-third-smaller mini version are being offered currently in 34 countries, although not yet in mainland China.

The updated iPad features retina display, a term coined by Apple meaning a pixel density so high a person’s eye can't distinguish individual pixels. Other updates to the newest iteration of the iPad include a processor that’s twice as fast as its predecessor, an upgraded high definition video camera, new dock connector and U.S. 4G-LTE coverage. The iPad mini is nearly 25 percent thinner than its big brother device, features a 7.9-inch multi-touch display and starts at $329. The 4th generation iPad starts at $499.

Shares of Apple have to skidding for about five weeks since hitting an all-time high of $705.07 on September 21. Dipping as low as $574.75 last Friday, shares have been lofted back to trading around $585 per share in Monday morning trading.

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Companies

Symbol Name Price Change % Volume
AAPL Apple Inc. 113.05 0.87 0.78 36,379,106
IRDM Iridium Communications Inc 8.11 0.15 1.88 1,154,304

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