iPad Mini Sells Out in China Due to Overwhelming Demand
According to Topeka Capital Markets analyst Brian White, Apple Inc’s (AAPL) iPad mini is sold out in China after overwhelming demand for the new device. Although during the initial launch of the iPad mini in the country, lines were not very long and scalpers bought majority of the iPads, the mini is now in high demand. The iPad mini is reportedly being purchased rapidly and is in short supply. With Apple experiencing short supply of the iPad mini in-stores, it is also likely that online shipping estimates for the device have probably extended to several days or even weeks.
Over the past several months, Apple has opened five new retail stores; three in Hong Kong and two in China. Even with the new openings, all retail stores in the region have already sold out of the iPad mini. The mini has turned out to be more popular than the new 4th generation iPad, which was also introduced in the same media event.
The 4th generation iPad received a faster A6X chip, a FaceTime HD camera and the new Lightning connector. The iPad mini is popular because of its smaller, more versatile 7.9 inch screen, which allows for more portability and easier reading on the go. As Apple meets the demand for the iPad mini, the device will gradually become available in-stores until the point of regularity.
China and much of Asia is a major growth sector for Apple, with CEO Tim Cook once noting that China is very important for Apple. With the company’s influence in Asia, it is no surprise that the iPad mini is experiencing overwhelming demand in the region.