Although there were only two days left to Q2 when Apple began selling the iPhone, that appeared to be enough to help boost profits and revenues…With the June 29 launch of the iPhone, AT&T activated 146,000 iPhone subscribers, more than 40 percent of them new to AT&T.

146K activations is a far cry from 500K. Did a lot of people buy iPhones and not (or could not) activate them?