The iPhone 4S — Apple’s latest smartphone — is shaping up to be a smashing success in Hong Kong.
Pre-orders for the iPhone 4S last Friday were sold out in Hong Kong a mere 10 minutes after Apple started taking them, CNNMoney reported, citing Ticonderoga Securities analyst Brian White.
The iPhone 4S goes on sale Friday in Hong Kong and 14 other countries, and it’s expected to reach mainland China next month.
The analyst White has asserted that China represents an enormous opportunity for Cupertino, Calif.-based Apple. That’s consistent with Apple’s recent results. In Apple’s 2011 fiscal year ending Sept. 24, the company revealed that net sales in its Asia Pacific segment rose $14.3 billion or 174 percent compared to the prior year. The company cited particularly strong growth in Greater China. In a research note issued over the summer, White said his firm estimated that the high-end mobile phone market in China constitutes100 to 125 million subscribers or roughly a $70 billion revenue opportunity for Apple.
“Ultimately, we believe Apple could be one of the biggest beneficiaries of China’s mobile Internet ramp over the next decade,” White wrote in the July 13th note.
Beginning Friday, November 11, the iPhone 4S will be available in Albania, Armenia, Bulgaria, El Salvador, Greece, Guatemala, Hong Kong, Malta, Montenegro, New Zealand, Panama, Poland, Portugal, Romania and South Korea. The gadget is sold today in 29 countries around the world and will be available in more than 70 countries by the end of the year.