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I'm not sure why you would want to cancel. I wouldn't worry. With the rush of millions of phones being ordered today, it is going to take a while.
 
In processing could take quite a while. Just remember you're not the only customer during a busy launch like this.

If you'd like faster service go through your carrier. Last year AT&T got my iPhone 5 to me overnight by 10 AM. It was terrific.
 
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