Apple proved it again that they are invincible. Apple iPad 2 sales beat the expectation to become another running success. iPad 2 had hit the market on 11 March and within a week surpassed earlier figures to reach one million units in sales.
Sold both online and in stores, it witnessed a high demand within 10 minutes after the stores were opened. By March 25 iPad2 was sold in 26 markets. There were even complaints that it was difficult to find an iPad 2 in the market. Sources say that in some stores ran out of stock within 10 minutes.
Apple CEO Steve Jobs had vowed earlier to avoid sales in gray market but Bloomberg reports that a large number of units were sold to unidentified buyers, an indication that these devices were sold at a premium in the gray market. iPads usually take much longer time to reach the Asian markets, giving enough space to players in the gray market to capitalize on scarcity of the new product.
Going by the craze people have for iPad which witnessed huge queues outside the Apple stores in the past, it is not new that the gray market will thrive for some more time Interestingly, the bulk buyers are the Chinese, say reports.
Moreover, Apple has restricted the ownership of the iPad2 to two per person and the payment was accepted only by credit-card and not cash.
The monumental marketing strategies of Apple are the reason for attracting customers. Apple goes online to sell its products before they hit the stands.
Samsung and Motorola are the other players in the market struggling to be on par with Apple. J.P. Morgan analyst Mark Moskowitz says this overwhelming success of tablets can be a bubble which can burst any time. Currently, there is an excess demand over supply but very soon the situation might turn around with supply exceeding demand by about 36 percent, he said.