A slow cellular network and expected first-generation bugs are two things that kept many from buying Apple's iPhone. There were also activation problems for several new iPhone owners this
weekend. Most of the complaints came from AT&T business customers who were unable to quickly transfer there new phones to a business account. Other complaints came from those switching carriers. AT&T
spokesman Mark Siegel said the overwhelming majority of customers could activate service "within minutes."
Piper Jaffray analyst Gene Munster estimates that Apple sold a half a million
iPhones over the weekend. That amounts to between $250 million and $300 million for Apple. TechCrunch reckons that Apple's margins on the device are probably closer to 20%, leaving an estimated $50
million to $150 million profit.
Read the whole story at The New York Times »