Thursday, June 3, 2010

Apple announced Monday that it has sold over two million iPads, just two months after the device began shipping in the US and only days after its international launch.

Apple shares rose 2.9 percent (US$7.41) to US$264.29 Tuesday afternoon. Market analysts also upped price targets and sales estimates in response to the announcement. Shares for AT&T, who provides data plans for the iPad, also rose yesterday.

Prior to the iPad’s April 3 launch, many analysts had speculated about the viability and marketability of the device. However, iPad sales have been faster than anticipated. Although it was only expected to sell one million iPads for the whole quarter, Apple announced in early May that it had surpassed the one-million mark in just 28 days. It again surprised industry watchers, who were expecting about 1.6–1.7 million iPads to have been sold when Apple announced that it had passed the two-million mark. iPad sales may make up over ten percent of Apple’s revenue this quarter, a feat that took the iPhone twice as long to achieve. The iPad has been so popular and supplies of the tablet so low that Apple tried to place limits on the number of iPads a person can purchase earlier.

Apple had postponed sales of the iPad to Europe and Asia until last weekend due to strong demand for the tablet in the US. In addition to the US, it now sells the devices in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland, and the U.K., and will begin shipping iPads to Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand, and Singapore in July.