Apple’s iPad sold three million units in the first 80 days after its April release and its current sales rate is about 4.5 million units per quarter, according to Bernstein Research. This sales rate is blowing past the one million units the iPhone sold in its first quarter and the 350,000 units sold in the first year by the DVD player, the most quickly adopted non-phone electronic product.
“The iPad didn’t seem destined to be a runaway product success straight out of the box,” said Colin McGranahan. “By any account, the iPad is a runaway success of unprecedented proportion.”
Morgan Stanley’s Katy Hubert said, “The netbook market is getting absolutely crushed by the introduction of the iPad.”
“We believe Apple’s lead in the tablet market will prove difficult to close by the onslaught of competing products coming over the next several quarters,” said Deutsche Bank’s Chris Whitmore.