CUPERTINO, Calif. – Orders for the iPhone 5 topped 2 million in their first 24 hours, more than double the amount of its predecessor over the same period.
Since Apple started taking iPhone 5 orders on its website at 2 a.m. on Friday, buyers who have a two-year service agreement with AT&T, Sprint or Verizon Wireless have been able to order the phone for $199, $299 or $399.
Apple said Monday that while most orders will be delivered Friday, demand for the iPhone 5 exceeds the initial supply. As a result, some of the devices are scheduled for delivery in October.
The Cupertino, Calif., company’s stock added 1.2 percent, or $8.50, to close at $699.78 Monday.
The iPhone 5 represents the first major revision of the iPhone’s screen size since the first model was introduced in 2007. The new iPhone has an elongated screen – 4 inches measured diagonally – that allows room for another row of icons and lets widescreen movies fit better.