By Richard Menta 9/4/07
When Steve Jobs introduced the iPhone this year he stated Apple's goal was to capture 1% of the crowded mobile phone market by the end of 2008. According to iSupply, Apple has nearly doubled that mark in its first full month of sales. Furthermore, one out of four consumers who purchased the phone dropped their old service provider to get it.
Despite the $500-$600 price, Shoppers flocked to Apple and AT&T stores to get one. The iPhone was the top selling smart phone for July capturing 1.8% of the market. According to iSuppli "the two models of the iPhone now on the market outsold all smart phones in July, including the Blackberry series, the entire Palm portfolio, and any individual Motorola, Nokia, Samsung or other smart phone model from a branded service provider. The iPhones U.S. sales in July were equal to those of the most popular feature phone, LGs Chocolate".
The news should give a healthy boost to Apple's stock as it far exceeds the company's announced sales objectives. The long-term prognosis is also rosy. iSuppli estimates that Apple will sell 30 million iPhones by 2011. The news is also good for AT&T who have an exclusive for the iPhone. iSuppli states that a fourth of iPhone shoppers switched their service to AT&T just to have access to the mobile device.
iPhone buyers were split almost eveny between men and women with men garnering 52% of sales versus 48% for women. Also found by iSuppli:
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