iPhone 5 preorders top 2M in first 24 hours, shattering record

From CNET News.com: Apple said today that the iPhone 5 notched more than 2 million preorders in its first 24 hours, more than doubling the tally of the iPhone 4S last year.

The iPhone 4S saw 1 million preorders over its first 24 hours.

It's not a huge surprise that the preorders are so high; Apple's Web site was overwhelmed on Friday, and the carrier stores began to push back their delivery estimates toward the end of the day. The iPhone 5 is benefiting from pent-up demand among consumers who had sought a new design, bigger display, and a 4G LTE connection.

Based on the pre-order figure, Canaccord Genuity technology analyst Michael Walkley raised his estimate to 9 million to 10 million iPhone 5 units sold by Sept. 29, up from a prior forecast of 6 million units.

Early indications for iPhone 5 demand have been positive. AT&T earlier said that it posted record preorders of its own, although it declined to provide specific figures. The company said only that the iPhone 5 performed better than any previous iPhone over the first day and the first weekend.

Apple enthusiasts, meanwhile, have already begun to line up at the New York flagship store on Fifth Ave., some having arrived as early as Friday.

Apple said that demand exceeded the initial supply. While a majority of the orders are expected to be fulfilled on Sept. 21, many are scheduled to be delivered in October, the company said. Both Apple and the carriers have already pushed back the shipment dates by several weeks.

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