Fortune: According to a survey released by Piper Jaffray analyst Gene Munster, more than three quarters of the initial iPhone 4 buyers had previously purchased an iPhone. "Apple has in three years built brand loyalty in the phone market that compels users to upgrade to the latest version and wait in line for one to six hours to pick up their iPhone," writes Munster.
His report also predicted between 1 and 1.5 million sales of the new iPhone during the first three days. Other key findings include the following:
- 16 percent of iPhone buyers were switching from a different network to AT&T.
- 54 percent of purchasers bought the higher-capacity 32GB model, up from 43% last year.
- 28 percent of those surveyed already have an iPad.
- Of the 72 percent who do not own an iPad, 39 percent said they would likely purchase one in the next 12 months.