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Apple Expected to Ship 30.3 Million iPhone Devices During Q1

Apple is expected to ship around 30.3 million iPhone devices in this quarter, an investment firm claims.

Raising its forecast of 27.3 million, investment firm Susquehanna, has informed that judging by the pace Apple is in selling iPhones, the company will sell 30.3 million smartphones in the running quarter.

The company also said that during its fiscal 2012, which started in October, Apple is expected to sell 111.4 million iPhones, up from the initial prediction of 104.4 million.

According to an article on CNET, the main reason behind the rise in the forecast is that Apple's newly launched iPhone 4S continues to enjoy massive demand; Apple has also reportedly resolved some of the supply chain issues that were plaguing it earlier.

"Demand appears solid as iPhone 4S continues to ship in one to two weeks, online and stores are generally sold out for in-store reservation and pickup (still hoping Santa has a few left)," said Susquehanna analyst Jeffrey Fidacaro in a note to investors.

"These factors, combined with positive colour from Best Buy and AT&T, led us to increase our iPhone shipment forecast for North America and modestly for Western Europe and Asia Pacific," he added.