5 Million iPhone 3Gs Sold This Quarter5 Million iPhone 3Gs Sold This Quarter

Apple reportedly will sell 5 million iPhone 3Gs for the quarter ending Tuesday, according to estimates from a Piper Jaffray analyst.

In a research note earlier this week, analyst Gene Munster upped his final figure from 4.1 million units and said sales will represent a "meaningful percentage" of Apple's revenues.

When the upgraded iPhone was released July 11, it saw 1 million sales over the launch weekend. This sales success came despite activation issues, long lines, and initial supply shortages.

"It took 74 days to sell the first 1 million original iPhones, so the new iPhone 3G is clearly off to a great start around the world," Apple CEO Steve Jobs said at the time.

Customers may have been drawn to the upgraded Internet speed, GPS, and the lower price point. Additionally, the original iPhone was available in only a handful of countries, but Apple plans to sell the iPhone 3G in 70 countries by the end of the year.

But not everything has been rosy for Apple, as many users complained that the iPhone 3G suffered from data connection issues, handset crashes, and more. These issues have even led to multiple lawsuits. After months of silence, Apple acknowledged there was a problem, and its 2.1 firmware upgrade appears to have fixed most of these glitches.

Apple has maintained that it hopes to sell 10 million iPhones by the end of the year, and if this estimate holds true, the company is on the right track. It's estimated that the company sold about 2.4 million original iPhones during the first half of the year, so the company would have to sell about 2.6 million units to reach its goal.