Pre-orders for the iPhone 5 sold out in record time

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People are excited about the iPhone 5 – so excited, in fact, that pre-orders sold out just an hour after Apple’s new device went on sale online. The rapid sales caused Apple to adjust shipping times from one week to two weeks.

TechCrunch reported that, by selling out in approximately 60 minutes, the iPhone 5 sold out its pre-order stock about 20 times as quickly as the iPhone 4 and iPhone 4S, which took around 20 hours and 22 hours, respectively. While many tech pundits have been reserved in their praise for the iPhone 5, that attitude doesn’t appear to have had any effect on customer excitement.

At this point, customers hoping to get the newest iPhone when it’s released September 21 will have to get in line at one of Apple’s retail locations.

ComputerWorld noted that approximately 44 percent of current iPhone owners plan to upgrade and calculated that AT&T users alone could potentially account for 10.5 million iPhone 5 sales. The publication also reported that demand for the iPhone 5  is driving down trade-in prices on older iPhone models.

Customers who can’t get their hands on an iPhone 5 right away can relax, though. With iPhone repair from iResQ, it’s easy to keep an older model in working condition.

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