iPad mini sells on average one million a day for first three days

Apple has revealed that they have sold three million iPads in the first three days after launch.

This figure was double the sales of the previous iPad launch in March and chief executive Tim Cook said: “We’re working hard to build more quickly to meet the incredible demand.”

Apple shifted 14 million iPads – up 26% year on year – and counted for 50.7% of all tablet sales according to IDC research. However, this share has reduced from nearly 60% last year as competition in the form of smaller sized tablets have been launched by Amazon, Google and Samsung.

In another story, Foxconn shares increased by 35% on ‘speculative’ news that the world’s largest maker of mobile phones is to win a contract to make Apple’s iPhone 5 from its affiliate Hon Hai.