This article first appeared on GuruFocus.
Apple’s (NASDAQ:AAPL) newest iPhone Air has taken China by storm selling out within minutes of launch, according to the South China Morning Post. The lightning-fast sellout signals a strong wave of early demand for what Apple is calling its thinnest iPhone ever.
Preorders for the sleek device opened earlier this week after Chinese telecom operators received long-awaited approval for eSIM services. The iPhone Air measures just 5.6 millimeters thick and sports a 6.5-inch, 120Hz display wrapped in spacecraft-grade titanium. It’s powered by Apple’s new A19 Pro chip, packing a 6-core CPU and 5-core GPU, and comes in four colors sky blue, light black, gold, and white complete with Ceramic Shield protection for better scratch resistance.
The launch coincides with CEO Tim Cook’s visit to China, where he pledged to step up Apple’s investment in the country and met with top government officials. Shares of Apple were little changed in premarket trading Friday, but the red-hot reception for the iPhone Air could give its China business a much-needed boost.