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February 07, 2011

IPhone -After Record First-Day Sales, Verizon Ceases iPhone 4 Pre-Orders


After making a record number of pre-order sales for the Verizon iPhone (News - Alert) on the first day of opening, Verizon Wireless ended online sales of Apple’s (News - Alert) iPhone. In the company’s own words, it was "the most successful first day sales in the history of the company." The company did not, however, provide the exact number of devices sold.

The communications giant explained that it ceased pre-orders after opening limited pre-orders for the device to its existing customers.

According to Verizon Wireless (News - Alert) Chief Executive Dan Mead, in its first two hours of iPhone sales, the company "had already sold more phones than any first-day launch" in its history. Verizon suspended iPhone 4 sales at 5:10 p.m. PST last Thursday.

Verizon had put aside a limited number of IPhones for its customers. However, the mobile operator maintained the phone would be available to the general population Thursday.

IPhone4 will be priced at $199.99 for the 16 GB and $299.99 for the 32 GB with a new two-year customer agreement, the company said in a release.

Ticonderoga Securities analyst Brian White noted in an e-mail that demand for the Verizon iPhone “was much stronger than originally expected. We believe this is quite a statement around the pent-up demand from Verizon customers for the iPhone 4 and we believe this speaks to the potential trajectory of demand with Verizon in 2011.This also provides just another example of why we believe the voracious appetite for Apple products is not yet reflected in the stock price.”

In a separate release, Verizon Wireless announced the launch of a new career development program with the Newark Innovation Academy (NIA). The company said that the program is designed to deploy wireless technology to the educational curricula of several high schools in the district. Most of the program will be facilitated on the Samsung (News - Alert) Galaxy Tab using Edmodo's free Android App and online social learning network for education, the company noted. A series of bi-weekly workshops will also be taught by Verizon Wireless employees, designed to inspire students to pursue higher education and assist them in career planning.


Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Tammy Wolf
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