If there has been any doubt, Bernstein Research is the latest who officially confirms that the Apple (Nasdaq: AAPL) iPad is selling well. In fact, it is now believed that it has become the electronic device with the highest adoption rate in history.
Colin McGranahan, retail analyst at Bernstein Research, said that the iPad is estimated to be selling about 4.5 million units per quarter, which is not only more than the one million units the iPhone sold in its first quarter, but it is also well more than the 350,000 units sold in the first year by the DVD player.
That matters because no other electronic device has been adopted more quickly than the DVD player -- before the iPad. "By any account, the iPad is a runaway success of unprecedented proportion." In a way, McGranahan confirmed that the iPad is out of this world, and truly "magical," just like Steve Jobs has claimed.
Apple is expected to face its first serious competition in the tablet space with Samsung's Galaxy tab, which is set for a launch across all major carriers in the U.S. on October 11. However, market research firms such as iSuppli believe that Apple will continue to rule the tablet market at least over the next few years. iSuppli believes that Apple will end 2010 with a share of 74.1%, 2011 with 70.4%, and 2012 with 61.7%.
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