Apple enthusiasts around the world lined up to get their hands on the iPhone 5 Friday morning; reinforcing estimates that the iPhone 5 could be the largest consumer electronics debut in history. One New York resident spent three days waiting for the debut, while Apple co-founder Steve Wozniak also waited in line in Australia.
Analysts speculate as many as 10 million iPhones could be sold over the weekend, although Barclays estimates that Apple may have trouble keeping up with initial demand due to a supply shortage of certain components. The new iPhone has a bigger screen, is lighter and has a faster processor to help power upgraded software features. Roughly two thirds of Apple’s profit is generated from the iPhone, so a successful launch for the iPhone 5 is key, especially in the face of rising competition from devices powered by Android and Windows operating systems.
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