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Apple: Sales Slump Sees Profit Fall By $2bn

Apple’s profit has fallen by almost $2bn (£1.3bn) after year-on-year sales of iPads and Macs tailed-off.

The US technology firm sold 14.6 million iPads during the quarter, compared with 17 million in the same period last year.

It sold 3.8 million Macs, down from four million between April and June last year.

However it sold 31.2 million iPhones in the last financial quarter, a record for the three month period to June.

That figure beats the 26 million handsets sold in the same period last year but is down on the 37.4 million devices sold between January and March this year.

Overall, the company’s quarterly profit of £4.49bn ($6.9bn) was down from £5.73bn ($8.8bn) in the same three months last year.

Tim Cook, Apple’s chief executive, said: “We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services.

“We are really excited about the upcoming releases of iOS 7 and OS X Mavericks operating systems, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

The company is facing strong competition from Samsung, which is growing on the back of the popularity of its Galaxy S4 handset.

In April the Korean manufacturer posted a 41% leap in earnings in the first quarter of this year – in the same week Apple reported its first annual slide in a decade.

Samsung made a net profit of 7.15tn Korean won (around £4.2bn) for the period, up from 5.05tn won (around £2.9bn) a year ago, attributed largely to a surge in sales of its smartphones.

via Apple: Sales Slump Sees Profit Fall By $2bn.

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