There's good news and bad in Apple's Friday press release
The key paragraph (with irritating trademark symbols stripped out):
Excerpts from the early analyst’s reactions:
Piper Jaffray’s Gene Munster: China iPhone Launch Slightly Earlier Than Expected. “We had previously expected both products to go on sale in China during the quarter and while the iPad timing is generally in-line with our prior thinking, the iPhone 5 will be available about a week earlier than we expected. The bottom line is that the China iPhone 5 announcement gives us slightly greater confidence in our 45 million unit iPhone estimate for December.”
Topeka’s Brian White: During the Year of the Snake, Expect China to Devour the Apple. “Although we expected the iPhone 5 to arrive in China in December, we were not expecting the iPad mini and fourth generation iPad to be launched in the country this year. Also, we were surprised on the upside by the fact the new iPads are now in 42 countries, while the iPhone 5 rollout seems a bit slower than expected and in 47 countries.”
ISI’s Brian Marshall: Quick Thoughts on AAPL’s continued penetration of China. “We continue to expect the iPhone 5 will be in ~100 countries and ~240 carriers by the end of Dec (e.g., nearly 100% of their total carrier partner base). From a technology perspective, the iPhone 5 is significant as it is the first iPhone capable of running on all 3 major carrier networks in China (e.g., CHL, CHU, CHA.) Big question remains however…when will China Mobile (CHL, world’s largest carrier with ~700 million wireless subs) start selling the iPhone? Our best guess is 2H13.”
More as they come in.