AT&T says preorders of iPhone 5 surpass those of previous models

AT&T subscribers ordered more of the new smartphone model than any previous iPhone both on its first day of preorders and during the weekend, the carrier said in a statement today, without providing details.

Apple shares rose to a record on Sept. 14 after the company said orders for the iPhone 5 from its online store won't be shipped for two weeks, fueling speculation the new model had sold out. The iPhone 5 is still available for preorder at AT&T's website and will be sold in its retail stores beginning Sept. 21 at 8 a.m. local time, AT&T said in the statement today.

AT&T, the first carrier in the world to sell the iPhone in 2007, said Oct. 20 it had activated more than 1 million iPhone 4S handsets, which it described then as the most successful start for sales of any iPhone model.

AT&T said it has the nation's largest fourth-generation wireless network, covering 275 million people.

The iPhone is Apple's best-selling product, making up about two-thirds of profit. The company's entry into the smartphone market in 2007 has resulted in sales of 244 million iPhone units and helped Apple become the most valuable company.