Apple's Tim Cook says iPhone 8 & Apple Watch Series 3 seeing localized sellouts

"I am thrilled," Cook told CNBC. "Here's what we're seeing right now. The watch with LTE — the Series 3 Watch — we are sold out in so many places around the world. And we're working really hard to meet demand. We've sold out of iPhone 8 and 8 Plus in some stores, but we've got good supply there. You can see what's going on here this morning — - I couldn't be happier."

While there have still been significant lineups at some stores, some other reports have pointed to low numbers in places like Sydney and even New York City. Many people are believed to be waiting for the iPhone X, shipping Nov. 3, despite the cheapest model starting at $999 before any accessories or AppleCare+.

Cook was also asked about LTE connection problems encountered by reviewers testing the Series 3.

"The issue is very minor, it will be fixed in a software update," Cook replied. "It has to do with the handoff between Wi-Fi and cellular, and we'll fix that. It only happens in a rare number of cases. I've been using it for quite a while and it works great. So we're very happy about it."

U.S. online shipments of the iPhone 8 and 8 Plus are seeing delays, but some configurations of the 8 Plus can be delivered as soon as next week, suggesting that demand isn't as high as with some past launches. LTE-equipped versions of the Apple Watch Series 3 may ship as late as mid-October.