News Column

Apple Sells More iPhones and iPads, but Profit Flat

Jan. 23, 2013

Apple Inc sold a record number of iPhones and iPads last quarter, but profit was little changed at 13.1 billion dollars from the same quarter in 2011, the Cupertino, California-based company said Wednesday.

Revenues rose 18 per cent to a record 54.5 billion dollars, which fell short of analyst's estimates. Share prices declined by as much as 11 per cent.

The lack of profit growth was attributed to higher manufacturing costs and the introduction of the brand new iPhone5, iPad mini and a restyled Mac right before the Christmas buying season.

Smart phone sales increased to 47.8 million units from 37 million in the year-earlier period, while tablet sales rose to 22.9 million in the three-month period ended in December from 15.4 million.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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