Apple 2.0

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iPhone 5 sets a sales record; 2 million pre-orders in 24 hours

September 17, 2012: 9:50 AM ET

Double the 1-million first-day orders recorded last year by the iPhone 4S

FORTUNE -- Based on first-day orders, the iPhone 5 is the fastest-selling device Apple (AAPL) has ever released.

The company announced Monday that it took more than 2 million pre-orders in the first 24 hours.

Last October, the iPhone 4S racked up 1 million orders in the same time period.

"IPhone 5 pre-orders have shattered the previous record held by the iPhone 4S " said Apple chief marketing executive Phil Schiller.

AT&T (T) had earlier reported that it took a record number of pre-orders both on Friday, the first day they were available, and over the weekend.

Some skeptics had suggested that the reason Apple experienced iPhone 5 stock-outs an hour after pre-orders started was that it had stockpiled smaller supplies of the device than previous models. Apple's and AT&T's announcements would seem to discredit that theory.

iPhones ordered today, according to Apple, won't be delivered until October.

You can read the company's press release here.

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Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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