Apple’s iPhone 7 launch generated trademark queues and brisk sales Friday that defied gloomy expectations, with some enthusiasts left empty-handed after lining up for hours as the company announced some models had sold out.
The new phone comes with an improved camera, no headphone jack, and a water resistant body as the US tech giant seeks to reverse declines in sales amid increased competition.
There has been much chatter among Apple fans since the new iPhone 7 and iPhone 7 Plus were unveiled about the groundbreaking decision to eliminate headphone jacks and embrace a wireless future. But on Friday most talk focused on supply issues.
Apple shares finished up 3.4 percent at $115.56 on Thursday as the firm said the iPhone 7 Plus and jet black version of the iPhone 7 had already sold out in pre-orders ahead of its debut in stores.
Analysts were divided over the cause of the shortages, with some saying the handset was more popular than expected, while others suggested the tech titan may be deliberately limiting supply or could be experiencing supply-side problems.