Math on iPhones Just Doesn't Add Up?

Tech Dirt is reporting that recently announced numbers by Apple and AT&T suggest that there is a large gap (1.7 million) between the number of iPhones being sold and those being activated. Taking into account factors like the iPhone launching outside the US and a 20% estimate of people buying the iPhone just for the purposes of unlocking, there are still 700,000 iPhones unaccounted for. "[...] suggesting that they're sitting on store shelves, piling up as unsold inventory. That number suggests at least some gap between perceived demand and actual demand -- while also raising questions about how much effort it will take to eat through that inventory."

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[davidwr]

That averages out to less than two apiece.