Apple sold out of iPhone X pre-orders

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As Apple's new iPhone X, which costs around a lakh of rupees, was sold out within a few minutes of being available for pre-orders on e-commerce platforms at noon on Friday.

Apple's online store started taking orders at midnight. The company's shares, which have fallen steadily since it announced in early September it would launch two iPhones within two months, rose almost 3 per cent in response.

Reuters reported the company's website as showing delivery times for the phone pushed out to five to six weeks, compared to an initial plan of November 3. The delay might have been caused by glitches in the production schedule of the TrueDepth camera and sensor systems on the phone.

The iPhone X was unveiled to much fanfare last month. The release day pre-order inventory of the iPhone X sold out in minutes Friday night. So this is yet another opportunity for customers who do not want to wait weeks to get their hands on the device.

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Online sellers are hoping to capitalize on Apple product mania by listing the company's new iPhone X at extreme markup prices.

The X uses facial recognition to unlock, can be charged wirelessly, and has no home button. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker's stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the period. The iPhone's X's display will also be capable of display high quality HDR10 content and Dolby Vision or high contrast playback. "Additionally, the new global warranty means people can essentially buy their phones from USA itself", said Tarun Pathak, analyst, Counterpoint Technology Market Research. Capital Research Global Investors boosted its holdings in shares of Apple by 15.0% during the 2nd quarter. Some third parties offer gold plating services, at quite high prices - spot gold sells for about $1,270 per ounce.

The global warranty will allow Apple customers to get support for their phones irrespective of where it was bought from. Google's new range of Pixel 2 and 2XL phones range between ~61,000 to ~82,000 in India. Customers who pre-ordered their iPhone X in an attempt to get a launch day delivery but ended up meeting with shipping dates beyond that are in for a treat.

Consumers looking to enter the premium smartphone user base are more likely to deviate towards iPhone 8. Flipkart also had a similar offer of buyback up to Rs 52,000.

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