Apple's iPhone 5 seems to be on track to break previous iPhone sales records and surpass analysts' estimations. The Cupertino-based company started accepting pre-orders for the iPhone 5 on Friday, Sept. 14 and sold out the initial inventory within an hour. Apple released its pre-order sales figure on Sept. 17, which revealed that the company sold 2 million units within 24 hours.

"iPhone 5 pre-orders have shattered the previous record held by iPhone 4S and the customer response to iPhone 5 has been phenomenal," said Philip Schiller, Apple's SVP of worldwide marketing. He went on to say that "iPhone 5 is the best iPhone yet, the most beautiful product we've ever made, and we hope customers love it as much as we do."

Additionally, U.S. Carrier AT&T announced that its iPhone 5 sales have set a new record, making it the fastest selling iPhone ever on the network. Since 2007, AT&T has offered all iPhone offerings, including the first device. However, the carrier did not mention the sales figures.

However, the overwhelming demand for the next-gen Apple smartphone has resulted in a delay in shipment and iFans may have to wait a little longer before they can lay their hands on the much-awaited iPhone 5.

"Demand for iPhone 5 exceeds the initial supply and while the majority of pre-orders will be delivered to customers on September 21, many are scheduled to be delivered in October," Apple said in a statement.

Consumers who have been unable to pre-order the smartphone need not fret as the iPhone 5 will be available in 356 Apple retail stores in the U.S. from Sept. 21. The smartphone will roll out worldwide to 22 more countries on Sept. 28.