Analyst: 2M iPad minis Sold on Launch Weekend

Apple sold 2 million iPad minis over its first three days of availability, according to estimates from ISI Group analyst Brian Marshall. Apple announced on Monday that it sold 3 million iPad minis and fourth generation iPads over the weekend, although the company didn't say how many of those were the new small form factor model.

"We estimate at least two-thirds of the units are iPad minis," Mr. Marshall said, according to Bloomberg.

iPad mini sales may have hit 2 million alreadyiPad mini sales may have hit 2 million already

The iPad mini includes a 7.9-inch multitouch display and the same processor as the iPad 2. It also includes built-in WiFi and Bluetooth, and sports the same 5 megapixel digital camera as the third and fourth generation 9.7-inch iPad.

Mr. Marshall's 2 million estimate comes in higher than 1.5 million units Piper Jaffray analyst Gene Munster predicted before sales began last Friday.

Both analysts expect the 7.9-inch iPad mini to sell well and grow Apple's tablet marketshare even more. "Consumers will gradually realize the benefits of the smaller form factor iPad, which will drive adoption," Mr. Munster said.

Mr. Marshall added, "The iPad mini could blunt some of the competitive threat from low-priced Google and Amazon tablets.

Apple's stock is on the rise again, too, which may be in part to the news that 3 million iPads were sold over the weekend. Apple is currently trading at US$585.11, up 8.31 (1.44%).