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Apple suffers fall in profits


Latest technology news

Latest technology news

Latest technology news

Apple sold a record-breaking 33.8 million iPhones in the last financial quarter but it also suffered a fall in profits, figures released by the technology giant have revealed.

The company also experienced a drop in sales of Mac computers in the three months to the end of September.

It sold a total of 33.8m of its smartphones, a record for the final quarter, up from 26.9m in the same period last year. It was also a rise from the third financial quarter, when 31.2m of the devices were sold - but could not match the 37.4m sold in the second quarter, between January and March.

The latest results include the first few days that the newest iPhones, the iPhone 5c and 5s went on sale in September.

In the past quarter, Apple sold 14.1 million iPads, a slight rise from 14 million between July and September 2012. It sold 4.6 million Macs, down from 4.9 million in the same period last year.

The firm's quarterly profit of $7.5 billion (£4.3 billion) was down from $8.2 billion (£5 billion) in the same three months of 2012.

Quarterly revenue was $37.5 billion (£23.3 billion), up from the same time last year when Apple announced revenue of $36 billion (£22.3 billion). International sales made up 60% of revenue for this quarter according to the California-based company.

The results come days after Apple announced the launch of the thinner and lighter iPad Air and a revamped iPad Mini, both of which go on sale in November.

Apple chief executive Tim Cook said: " We're pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones.

"We're excited to go into the holidays with our new iPhone 5c and iPhone 5s, iOS 7, the new iPad mini with Retina Display and the incredibly thin and light iPad Air, new MacBook Pros, the radical new Mac Pro, OS X Mavericks and the next generation iWork and iLife apps for OS X and iOS."

Apple is predicting revenue of between $55 billion (£34 billion) and $58 billion (£36 billion) in the first quarter of 2014.

Overall for the year to the end of September, Apple's revenue was $171 billion (£105 billion) - up from $157 billion (£97 billion) the previous year.

End-of-year profits fell from $41.7 billion (£26 billion) in 2012 to $37bn (£23 billion) in the 12 months to the end of September.

In a conference call to investors, analysts and journalists after announcing the results, Cook said he saw "significant opportunities" in new product categories, as well as across the current Apple spectrum.

He did not give further details but said that Apple's skills in hardware, software and services were "very, very unique".

"I think no one has a set of skills like this," added Cook. "And we obviously believe we can use our skills in building other great products that are in categories where we don't currently participate today, and we're pretty confident on that."

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