How many iPhone 5s will Apple sell?

Apple expects sales of the next generation of its smartphone to be somewhere close to 263 million units, but that's a moving target at best.

Apple's marketing chief Phil Schiller stated (under oath) that when assessing sales for a new model of the iPhone, Apple used an easy shorthand:

Each new generation sold approximately equal to all previous generations combined.

That’s a helpful gauge but does it hold and will it continue to hold?

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