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The iPhone X just sold out in 20 minutes

Demand for the cutting-edge X was always likely to be high — despite its $999 price tag — but reports that Apple’s supply was severely constrained due to production issues made securing one by launch day almost impossible.

by David Gilbert
Oct 27 2017, 7:13am

The initial stock of Apple’s iPhone X sold out online in less than 20 minutes Friday, forcing many devotees of the brand to wait at least six weeks before they receive the new smartphone.

Alternatively, some new models are available on eBay — for as much as $10,000.

Demand for the cutting-edge X was always likely to be high despite its $999 price tag, but reports that Apple’s supply was severely constrained due to production issues made securing one by launch day almost impossible.

Pre-orders opened at 3 a.m. ET on Friday. Within 10 minutes, the 256GB models were already out of stock, and 10 minutes later the 64GB models were gone.

Shipping times quickly slipped from the Nov. 3 launch date to several weeks. Consumers ordering the iPhone X now face a six-week wait for delivery.

The phones will go on sale next week in 55 countries amid reports that Apple’s supply would not meet demand. A report this week from the Nikkei said the brand would have only half the number of new smartphones it initially wanted for the critical launch period — which includes the holiday season.

For those who can’t wait six weeks, there are other options.

The phones go on sale in stores Nov. 3, and Apple confirmed this week retailers would have supply — though how much is unclear. The high demand for the iPhone X means we can expect long queues outside Apple stores ahead of opening times — something that didn’t happen for the iPhone 8 last month.

There are already dozens of listings for confirmed iPhone X pre-orders on eBay with sellers asking for considerable markups on the recommended retail price.

One person even slapped a $10,000 price tag for their pre-order on eBay.