The iPhone 5S is in high demand. The smartphone recently sold out within 24 hours of its launch in India, the world’s third largest smartphone market in terms of volume.
Stock report for iPhone 5S
The Times of India reported Bharti Airtel Limited (NSE:BHARTIARTL) and Reliance Communications Ltd (NSE:RCOM) (in addition to major retail chains) sought extra stock. Unfortunately, Diwali weekend made it difficult to restock in time. Top retail stores including UniverCell Holdings, Inc. (OTCMKTS:UVCL), Future Group, and The MobileStore reported their stock of iPhone 5S devices, and said iPhone 5C phones are still in stock.
Times of India explained, “PlanetM Retail chief executive Sanjay Karwa said those who want the iPhone 5S aren’t willing to settle for the iPhone 5C. Manish Chaubey, 32, an executive at a multinational based in Gurgaon, was one of those disappointed. ‘I went to buy the 16GB iPhone 5S. I have made several enquiries at retail stores as well as Airtel and Reliance outlets and am really frustrated as they say stocks are sold out and they aren’t sure when they will get fresh stocks,’ he said.”
Trade estimates report about 30,000 units were sold in India, and about 6,000 of them were iPhone 5S models.
iPhone 5S sales in India
Bharti Airtel Limited (NSE:BHARTIARTL) and Reliance Communications Ltd (NSE:RCOM) offered the phones through bundled offers on November 1st and 2nd. A representative for the former attributed the issue to the holiday weekend, although one industry insider claimed Baharti sold about 700 units.
TOA added, “On Saturday evening, retailers asked Apple Inc. (NASDAQ:AAPL) to get its distributors, Redington and Ingram Micro, to send them any remaining iPhone 5S stocks. These reached stores on Sunday evening and were sold out by noon on Monday.
While the telecom companies echoed the view of retailers that the iPhone 5S has seen much higher demand than the iPhone 5C, they have exhausted stocks of both models and their variants, thanks to the deals available. The phone is available for the first time under the kind of contracts available overseas.”
Apple Inc. (NASDAQ:AAPL)’s iPhone 5S is a real success.