Apple posts poorer than expected profits in Q3

26/07/2012

Apple has reported a net profit of $8.8 billion (£5.7 billion) in the three months to the end of June, which is less than had been expected.

The profits increased by 21 per cent when compared to last year's figures, but disappointing sales of iPhones have led to poorer than anticipated results.

It managed to sell 26 million iPhones during the period. While this is an increase of 28 per cent, it is slower growth than many analysts had forecast.

Many experts had predicted earlier in the week that Apple wouldn't post record-breaking profits.

Sales of iPads - 17 million - helped offset the disappointing amount of iPhones sold.

The relative lack of interest in iPhones could be because people are waiting for the release of the latest model, which is due to be out in the fourth quarter of the year.

Rumours earlier this week suggested that the new mobile phone would come with a new connector that would make current accessories obsolete.

"We're thrilled with record sales of 17 million iPads in the June quarter," said Apple's chief executive Tim Cook.

Posted by Peter Robinson

Magic your old mobile into cash now