Apple Keeps Setting Records With iPhone 4

Apple keeps enjoying good news on the product front, not only beating out competitors, but also shattering its own records with its newest iPhone.

On Monday, Apple said it sold 1.7 million iPhone 4 units in the first three days after launch and is struggling to keep up with customer demand. Apple had already tallied 600,000 pre-orders since it began taking pre-orders on June 15.

To put this new record in perspective, when the iPhone was originally released three years ago, it took almost three months for Apple to reach the 1 million mark in units sold.

’This is the most successful product launch in Apple’s history,’ Apple CEO Steve Jobs said in a statement. ’Even so, we apologize to those customers who were turned away because we did not have enough supply.’

Both Apple and exclusive U.S. iPhone carrier AT&T have been targets of criticism in recent weeks because they couldn’t keep up with the pre-order demand and consequently were forced to switch around availability dates. However, this hasn’t deterred customers eager to be among the first to have it.

Meanwhile, Apple is also dealing with a shortage of white iPhone 4 devices. Apple hasn't explained the reason for the shortage but says supplies will become available in late July.

The latest version of the coveted smartphone boasts a longer-sustaining battery, FaceTime technology for video calling, a high resolution display and a sleek package of glass and stainless steel.

For all it includes, the 16GB iPhone costs Apple $188 to make, according to iSuppli, with the costliest single item as the Retina Display -- responsible for the ultra-crisp resolution – at $28.50. The same version will set back customers $199 with a two-year contract.