Shares fall slightly as sales disappoint despite sell-out

iPhone 5 sales speed past five million in 3 days

Sales of Apple’s iPhone 5 have sped past five million just three days after launch.

After also surpassing two million pre-order sales, Apple said that demand for the iPhone 5 had exceeded initial supply, with many shipments of the device now set for October instead.

Sales of Apple’s latest smartphone also beat the record previously held by the iPhone 4S, which sold more than four million units in its first three days.

“Demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible,” said Apple CEO Tim Cook.

“While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date. We appreciate everyone’s patience and are working hard to build enough iPhone 5s for everyone.”

Despite hugely impressive sales however, share prices fell slightly as analysts had expected the mobile to sell ten million units.

Announced just a week before launch, the iPhone 5 is powered by a new A6 chip and features a larger screen than its predecessors, which has forced a number of developers into releasing updates for their games to accommodate the new aspect ratio.

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