Apple says it has sold over two million of its new iPhone 5 in China, just three days after its launch on December 14. The iPhone 5 will be available in more than 100 countries by the end of December, making it the fastest iPhone rollout ever.
Tim Cook (CEO, Apple): Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China. China is a very important market for us and customers there cannot wait to get their hands on Apple products.
In the meanwhile, Apple’s stock continued to take a battering, falling briefly below $500 on Monday, as Citi Research downgraded the company from “buy” to “neutral”, and lowered its price target to $575 from $675.
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