Apple’s iPad mini is apparently flying off of store shelves like hot cakes. At least, that’s what the company suggested today when it said it has been nearly impossible to keep it in stock and that it sold more than 3 million iPads, overall, this past weekend. It may come as a bit of a surprise to a few analysts who thought the $329 entry price point was a bit too high, but as it turns out, Apple may be making some solid margins on the tablet’s popularity.
According to a recent teardown from IHS iSuppli, the entry level 16GB iPad costs Apple $188 to build. Considering Apple makes $329 off of each of those models sold, it’s pulling in about $141 off of each tablet. AllThingsD said the company makes a $90 profit on the 32GB option and $162 on the 64GB iPad mini tablet.
Apple obviously took a different path than its competitors. Amazon, for example, sells the Kindle Fire HD at cost, which means it makes its money not on hardware sales but as consumers begin to make purchases, such as eBooks, music and apps, from its ecosystem.