Apple outpaces previous iPhone sales with 2 million orders in 24 hours

Apple said Monday that it received more than two million orders for its new iPhone 5 in 24 hours, and that many new orders would be pushed back into October because of strong demand.

"iPhone 5 pre-orders have shattered the previous record held by iPhone 4S and the customer response to iPhone 5 has been phenomenal," said Philip Schiller, Apple's senior vice president of worldwide marketing.