Apple's 2 Million iPad Sales In Context

Steve Jobs iPad

Apple announced this morning that it sold over 2 million iPads in two months, suggesting Apple is adding over a billion dollars in new sales for this quarter.

When Apple announced the sale of its millionth iPad, our own Dan Frommer put it into context. Below, we’re updating his post to reflect today’s news:

  • It’s possible Apple will reach 2.5 million iPad shipments for the June quarter. We’re assuming that delays in production, as well as a general slow down lead to just 500,000 sold in June.
  • Assuming an average sales price (iPad and accessories) of $650, that’s 1.3 billion in iPad revenue for Apple already, and could reach more than $1.6 billion for the quarter.
  • Apple’s entire company only generated $1.8 billion in revenue during the June quarter of 2000, 10 years ago.
  • In a note from April 14, Morgan Stanley analyst Katy Huberty estimated “every 1 million incremental iPad units and related accessories equates to $0.20-$0.25 EPS.” So Apple could be adding $0.75 EPS for the quarter.
  • As Apple pointed out in its first press release on iPad sales, it only took 28 days to sell 1 million iPads. It took 74 days — more than twice as many — to sell 1 million iPhones in 2007. (At a slightly lower price.)
  • It took Apple almost two years to sell 1 million iPods.
  • Apple is already likely the tablet PC market leader. As The Guardian noted  (via TUAW), IDC analyst David Daoud projected that sales of non-Apple tablet PCs would slip to 1.25 million units in 2010. If Apple hasn’t passed 1.25 million iPads sold yet, it will soon.
  • But the PC industry sold more than 30 million netbooks last year, according to IDC (via WSJ), and that market will likely continue its rapid growth this year. Apple has a long way to go there.

Don’t miss: 10 things we love and hate about the iPad →

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