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600,000 Pre-ordered iPhone 4 Means Apple On Track For Record Quarter

Apple announced yesterday that it has managed to flog 600,000 of its iPhone 4 smartphone, not just preordered but also getting new customers and extending the contracts of existing ones, a ripple effect that multiplies the effective financial value of the latest Apple device.

Reuters reports that analysts are confident that Apple should bbe able to hit its 10 million units sold per quarter target which coincides with reports last week about Apple ordering three million VGA lens kits per month for the iPhone 4.

This would represent a 25 percent increase on iPhone sales year on year and should allow Apple to surpass the 8.75 million units shipped during the last quarter.

Reaching the psychological 10 million units barrier means Apple would almost be breathing down the neck of RIM and its Blackberry range which has sold more than 10 million for the first time ever last autumn.

JPMorgan's Analyst Mark Moskowitz wrote in a research note that network contracts for the first iPhone 3G are about to expire which might play in Apple's advantage.

Apple is also more likely to ramp things up because of the immediate threat of Android smartphones and a resurging Microsoft. This means boosting supply massively to prevent prospective customers from going elsewhere.