iPhone 5 is the fastest selling iPhone yet

Newsbrief: Apple has sold over 5 million iPhone 5s around the world since launching three days ago, making it the fastest-selling smartphone in the company's history. Consumers were eager to purchase the new hardware despite criticisms from developers and technology news outlets that the iPhone 5 lacked any major innovative features over previous models. At least one major publisher, Electronic Arts, though, expects the iPhone 5's big debut to accelerate game sales and mobile gaming audience growth considerably, similar to new home console launches. For comparison, the iPhone 4S released last year sold only 4 million units in its opening weekend, while 2010's iPhone 4 moved 1.7 million units in its first three days on sale. Though a number of analysts like Piper Jaffray's Gene Munster predicted the iPhone 5 would sell as many as 6 to 10 million units in its opening weekend, Apple notes that demand for the smartphone exceeded its initial supply, and that it will still be shipping preorders in October.