NATIONAL: Apple Breaks Sales Record With iPhone 4

[ Article via Yahoo! News]

Apple Inc had sold 1.7 million units of the iPhone 4 worldwide by Saturday, June 26, its most successful product launch yet, the company said on Monday.

Sales of the touchscreen smart-phone, which competes with devices from Nokia, Research In Motion and Motorola, surpassed some analysts’ expectations, as well as those of Apple itself, which has been having trouble keeping up with demand.

In a statement, Chief Executive Steve Jobs apologized to “customers who were turned away” because the company did not have enough supplies of the iPhone 4.

Shares of AT&T Inc, the exclusive U.S. provider for the iPhone, rose as much as 1.5 percent after the news as analysts said it meant more customers than expected committed to use the No. 2 U.S. mobile provider’s service for another two years.

This is seen as more crucial than ever because AT&T is widely predicted to give up its exclusive rights to the phone in the next year, when Apple is expected to add Verizon Wireless, the biggest U.S. mobile operator, as a service provider.