According to a report out today, the iPad has had a faster adoption rate
than any electronics product in history other than cell phones. Colin McGranahan, a retail analyst with Bernstein Research, notes that the device blew past the previous record holder, the DVD player, which sold 350,000 units the first year it was out. There were that many iPads sold by mid-morning on the day after it was released. If current trends continue, the iPad will be the fourth largest consumer electronics category.
It took just 28 days for Apple to sell a million iPads. The original iPhone, Apple's first runaway success, needed 74 days to achieve that milestone. “This is much bigger than I thought it would be," Pete Najarian, the founder of TradeMonster.com
, told CNBC's "Fast Money
" blog. "It’s really a total media device and there’s not much a PC can do that you can’t do on an iPad." McGranahan himself echoed that assessment, calling the iPad "a runaway success of unprecedented proportion." When the tablet was first announced, many observers - after laughing about the name "iPad"
- predicted that it would "fail catastrophically
." Today, the largest manufacturers are in a race to get their tablets to market.
Apple does not regularly update its sales numbers, so the last verified measure was the company's report in July
that 3.27 million units had been sold. Bernstein's McGranahan estimates 4.5 million more were sold in the quarter since then. He further predicts that Apple will make $9 billion in revenue from the iPad next year, meaning that just this one product from this one company will have sold more than all
game consoles from every
manufacturer, and just behind all TVs, smartphones and notebook computers.