Tools Consumers line up at the Apple SoHo store

There’s this gadget that came out this past weekend called the iPhone, right? And apparently it’s doing pretty decent in terms of sales. Mixed reports are coming in stating that either 500,000 or 525,000 have been sold. And just like the Playstation 3, most people in major cities went for the high-end 8GB model over the cheaper 4GB version.

As for all that customer retention I’m always rambling on about, looks like the iPhone is just what the doctor ordered for AT&T. About half of the consumers who purchased an iPhone are new customers who joined solely for Apple’s must-have gadget. I’d say that’s not bad for three days of work.

Piper Jaffray: 500,000 iPhones sold over the weekend [News.com]