Apple Sells 2M iPhone 5s in China in First 3 Days

In this photo from Sept. 21, 2012, a customer tests the new iPhone 5 at the Apple store in Hong Kong.
Associated Press + More

NEW YORK (AP) — Apple said Monday that it sold more than 2 million iPhone 5s in China in their first three days of availability, setting a record for that market.

IPhone 5, which launched in China on Friday, will be available in more than 100 countries by the end of December.

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The phone first went on sale on Sept. 21 in the U.S., Germany, France, Japan and five other countries, with more than 5 million of the phones sold in the first three days.

That sales tally also set a record, but only beat last year's iPhone 4S launch by a small margin, falling short of some analysts' expectations. Apple shares hit an all-time high of $705.07 that day, but in the months since the stock has plunged about 28 percent.

Also on Sunday, Citi analyst Glen Yeung cut his rating for the Cupertino, Calif.-based company to "Neutral" from "Buy," questioning the strength of iPhone 5 demand and saying that it's unlikely Apple shares will rally any time soon.

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Apple Inc. shares fell $6.85 to $502.94 in premarket trading Monday.

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