Apple Q4 misses expectations on disappointing iPad sales
Quotes

Apple Q4 misses expectations on disappointing iPad sales

Last Updated: Friday, October 26, 2012, 11:04
 
 Comment 0
 
Apple Q4 misses expectations on disappointing iPad sales
London: Shares in the technology giant Apple fell up to four percent in after-hours trading in New York as iPad sales fell well short of Wall Street targets.

A drop in iPad sales in the fourth quarter left profits at 8.22 billion dollars, trailing the 8.3 billion dollars that analysts had forecast.

According to the Telegraph, while sales of iPad, Apple's newest product, missed forecasts, iPhone sales beat them.

Apple's chief executive Tim Cook said that iPad sales dipped in the quarter as consumers put off purchases until this week's launch of a smaller and cheaper version of the device.

Apple sold 14 million iPads in the quarter, down from the 17 million they sold in the third, and below the 15.3m shareholders were expecting, the paper said.

According to the paper, Cook admitted that ‘we are in a significant state of backlog.’

He, however, added that “our production has improved significantly from earlier this month. It's difficult to predict when supply and demand will balance.”

ANI



First Published: Friday, October 26, 2012, 11:03


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved