iPhone Weekend One: 700,000 Sold, $200million+ Profit For Apple

After speculation earlier in the week that Apple had sold between 400-500,000 iPhones, the actual new sales figures for the iPhone are even wilder than earlier figures: Apple and AT&T moved 700,000 iPhones to the close of business Sunday.According to MacNN, Apple is said to have sold out of iPhones in 95 of 164 stores and AT&T has nearly depleted its entire stock. The report quotes American Technology Research predicting that the iPhone would likely be AT&T’s fastest ever selling product and that the iPhone could rank among the fastest selling consumer electronics devices of all time.

Based on the cost of manufacturing an iPhone (see post July 2), Apple would have made a profit of between $200million and $266 million in 3 days (not including marketing costs), on sales somewhere between $350million and $420million, significantly more than earlier estimates of Apple having a $300million weekend.

Saying the iPhone has been successful at this point would be matter of stating the blatantly obvious.

Update: corrected reference to figures. The 700,000 figure may be another analyst figure according to a comment, although other places are reporting the 700,000 as the actual figure.

(image credit: Engadget)