Apple's latest smartphone, the iPhone Air, sold out within minutes of its launch in China, a significant indicator of strong consumer demand in the crucial market. The brisk sales were reported on the same day the company announced a major five-year exclusive partnership with Formula 1 to broadcast all races on Apple TV in the United States, starting in 2026. The iPhone Air, which was announced the previous month, features Apple's A19 Pro chip, a thin 5.6-millimeter design, and is constructed from titanium. Despite the positive sales news from China, Apple's shares were little changed in premarket trading. The day's news also included a report from Mizuho Securities suggesting a potential delay in the launch of Apple's first foldable iPhone to 2027. This flurry of news comes after Apple's October 15th announcement of new MacBook Pro and iPad Pro models featuring the new M5 chip, which focuses on enhanced AI performance.