Apple announced this morning that it sold its 1 millionth iPad last Friday. That is impressive as it sounds, and Apple’s iPad is performing ahead of expectations.
While there was obviously pent-up demand for the Apple tablet, selling a million of anything in a month — let alone a $500+ gadget in April — is an impressive feat.
Here’s some more context:
- Coupled with this weekend’s launch sales of the iPad 3G (estimated at 300,000 by Piper Jaffray’s Gene Munster) and this month’s scheduled international iPad launch, it’s possible Apple will reach 2 million iPad shipments for the June quarter. Munster, who got burned with an overly aggressive sales target for the iPad’s first weekend, now admits his new target of 1.3 million units for the quarter “may be conservative.”
- Assuming an average sales price (iPad and accessories) of $650, that’s $650 million in iPad revenue for Apple already, and could reach more than $1 billion for the quarter.
- Apple’s entire company only generated $1.8 billion in revenue during the June quarter of 2000, 10 years ago.
- This suggests Wall Street’s estimates for Apple’s June quarter — which probably assume more conservative iPad sales — should go up as more analysts factor in the iPad. (Though the new iPhone’s anticipated June-quarter launch is much more of a factor.)
- As Apple points out in its press release, 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 last month (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.
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