Apple's iPhone had a record-breaking introduction, sell up to 700,000 of the $499 and $599 combination cell phone, music device and video player in three days. AT and T, the exclusive wireless carrier for the iPhone said they'd seen nothing like it.
"We sold more iPhones in the first weekend of sales than in the first month of sales for any device in AT and T history," company spokesman Mark Siegel told the USA Today. Because the iPhone is activated at home instead of in stores, Apple outlets could sell up to 1,000 phone per hour.
Financial analysts estimated $250 million worth of iPhones - almost all the $599 version with 8 gigabytes of storage) was sold over the weekend. Apple will likely sell 4.5 million iPhones this year and over 30 million devices by 2011, according to researcher iSuppli.
ISuppli today said a breakdown of the manufacturing costs for the iPhone revealed Apple is making around 55 percent in profit. The $599 iPhone, for example, costs Apple $265.83 to make, according to iSuppli. Apple reportedly declined to comment.
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