Weekend Update: 500,000 iPhones sold in less than three days

The weekend box office reports are in, and Steve should be one happy camper. Not only did his other company bring in a good $47 million with the release of Ratatouille, but Apple sold over 500,000 iPhones since Friday night. According to TechCrunch, with profit margins of 20-50%, Apple raked in anywhere from $50 to $150 million!

Compared to the Wii frenzy of late ’06, Apple has done outstanding. It took Nintendo eight days for sales to amount to 600,000 units, and that machine was several hundred dollars cheaper. Apple also seems to have been better prepared than Nintendo, because, as Engadget notes, Apple retail stores still have an 84% availability of the iPhone, which means fans won’t be left lining up every Sunday morning to get their hands on this popular piece of technology.

Read [Engadget]