Apple CEO Tim Cook said, “Apple Inc. underestimated the “staggering” demand for the iPhone 4S when it started sales in China this month.” On January 13, people pelted Apple’s oldest store in China with eggs when the shop in Beijing’s Sanlitun district failed to open of first day of iPhone 4S sales.
Cook further added that “We thought we were betting bold,” during the sales of the device in China on a conference call yesterday. “We didn’t bet high enough.” Apple announced yesterday that quarterly profit roses more than doubled to $13.1 billion surging on the demand for the iPhone and iPad.
The company is moving further closer this month to expanding its distribution in China through a second carrier partner China Telecom Corp., when regulators approved specifications for a device. Apple sold 5.6 million iPhones in China during the first nine months of last year.