iPad Mini May Have Sold 2 to 2.5 Million Units First Weekend

Piper Jaffray analyst Gene Munster believes the majority of launch weekend iPad sales were from the iPad Mini.

Out of the three million iPad units Apple sold during the past weekend, he estimates that the company sold 2 to 2.5 million iPad Minis, which is a considerably higher amount from a previous estimate of 1 to 1.5 million. The analyst based his estimation on line surveys, which shows that around nine out of every 10 customers were waiting for the iPad Mini as opposed to the iPad 4.

Munster said he maintains his previous estimate of $12.6 billion in overall iPad revenue during the December quarter for Apple. Depending on the availability of the Mini, the unit totals may shift.

"Specifically, units may increase driven by iPad Mini, but have a slight cannibalization effect, which, when factoring in the lower [average selling price], would result in revenue unchanged," Munster said. "We are currently modeling for 25 million total iPads including 20 million full-sized iPads and 5 million Minis in December."

J.P.Morgan analyst Mark Moskowitz, meanwhile, agreed with Munster's prediction of most first-weekend sales were likely attributed to the iPad Mini. He expects the tablet to take share away from the $199 tablet market, as well as hurt e-reader and PC markets.

"Given the global economic uncertainty, we think price-sensitive users could gravitate toward an iPad mini instead of making a PC purchase. Our view is that the incremental use case is more differentiated for first-time tablet users. In tough times, unique or 'feel good' purchases can be more amenable to end users, which gives the edge to the tablet versus the PC, in our view," Moskowitz noted.

Rather than the iPhone, which makes the bulk of Apple's revenues and profits, the analyst believes the iPad Mini could help the tablet become the firm's main growth market. "In our view, barring entry of another new category, Apple's iPad Mini could set the stage for the iPad product set to carry the growth baton in the future, particularly as iPhone growth momentum moderates."


Contact Us for News Tips, Corrections and Feedback

This thread is closed for comments
    Your comment
  • joytech22
    Still less than the amount of condoms sold within the same time frame.
  • mas
    This article misses the point just as Apple has really missed the boat.

    The iPad mini should have been a converged tablet/iphone (like the Note2) - and if they really wanted to define the category, they would implement secure remote terminal access (eg ssh) tightly integrated at the OS level rather than as an add-on notoriously unstable 3rd party app - allowing secure remote access and 'real' app access on personal or business computers with the ability to push pull data down as needed, thus allowing us to leave the laptop at home and eliminating the security exposure of lugging around a laptop.

    The result: a TRULY converged device that would allow phone, browsing & access to real apps and data as needed in a single secure package. The irony: it requires no new technology nor engineering - they simply implement that which has been around for more than a decade. All it takes is a a few moments to think of how the various duplicitous devices now offered are used. And that being the case, I anticipate such an advancement to take another 10-20 years...

    As it stands, we simply have a slightly smaller under-powered over-priced device that still requires that we carry a cell phone and a laptop.
  • deftonian
    Apple played that one well... put out a statement of lower sales expectations so that when it breaches the mark it gains notoriety from users as "this must be good since it sold more than expected!"

    sly foxes O_O