Apple announced Monday morning that preorders for its new iPhone 6 and iPhone 6 Plus topped 4 million in the first 24 hours they were on sale.
The company said that demand for the new phones exceeded its initial suppply. "Many iPhone preorders" will not be delivered until October, the company said. The phone does not go on sale in stores until Friday.
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Matthew Zeitlin is a business reporter for BuzzFeed News and is based in New York. Zeitlin reports on Wall Street and big banks.
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