iPhone 4 Sales Already Surpassed 1.5 Million

Sales of Apple's iPhone 4 may have already surged past the 1.5 million mark if a report by investment banking firm, Piper Jaffray, is to be believed.

Apple has already announced that 600,000 iPhone 4 were sold in the first 24 hours of sale, a number that could have been significantly higher had it not been for some serious capacity constraints.

Indeed, the lead time for delivery of iPhone 4 ordered from Apple's website is now 21 days while those looking for the white iPhone 4, have yet to be given a definitive launch date.

A researcher for the company added the number of preorders for the US plus an average of 500 handsets sold per Apple store and 50,000 or so iPhone 4 flogged at Best Buy before multiplying it by two to account for international sales.

Piper Jaffray also compiled data obtained from surveys it carried across several US cities with the help of people queuing up. As we mentioned last week, the other interesting tidbit was the fact that 77 percent of those questioned said they were upgrading from the iPhone 3GS or even older models.

In the UK, many retailers in the capital including the likes of Carphone Warehouse and Phones4U have already run out of handsets while mobile phone operators like Orange and Vodafone have confirmed that they are awaiting new stocks of the iPhone 4.