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iPhone, iPad sales boost Apple profit

26 October 2012, 15:14

San Francisco - Apple on Thursday reported that its quarterly profit climbed to $8.2bn on revenue that rose to $36bn on the backs of hot-selling iPhones and iPads.

The California-based company said that it sold 26.9 million iPhones and 14 million iPads in the recently ended quarter, topping sales in the same period last year by 58% and 26 percent, respectively.

"We're very proud to end a fantastic fiscal year with record September quarter results," said Apple chief executive Tim Cook.

"We're entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline."

Apple on Friday will begin taking orders for Wi-Fi iPad mini models unveiled this week at a media event in the Silicon Valley city of San Jose.

The iPad mini's touchscreen measures 7.9 inches diagonally compared to 9.7 inches on the original iPad.

A 16-gigabyte version of the iPad mini with Wi-Fi connectivity costs $329, while a 16GB model with both Wi-Fi and cellular capability costs $459.

The top-of-the-line 64GB iPad mini with Wi-Fi and cellular connectivity will sell for $659. Like later versions of the original iPad, the new Apple tablet also features rear- and front-facing cameras.

The iPad mini weighs 0.68 pounds, less than half the original, and is 7.2mm thick - thinner than a pencil.

Apple also unveiled a fourth generation of the original iPad for the same starting price of $499 for a 16GB model with Wi-Fi connectivity.

While the cheapest iPad mini costs $329, less than the original iPad, the device is still considerably more expensive than the seven-inch tablets from Amazon, Google and Samsung - which start at $199.

Apple also introduced slick upgrades to its line of Macintosh computers, sales of which have outpaced the overall personal computer market for six years running.

Apple slimmed down its top-selling model, the 13-inch MacBook Pro, and gave it a "retina display" that boasts richer images than those on high-definition television sets. Starting price for the new MacBook Pro model was $1 699.

A new model iMac with the computing hardware built into its slim monitor promised to complement smartphones or tablets in modern lifestyles.

The new iMacs started at $1 299 with the first models available in November.

Apple said that it sold 4.9 million Macintosh computers in the recent quarter in a 1% rise from the same three-month period last year. However, sales of iPods dropped 19% to 5.3 million, according to the earnings report.

Apple's announced that it will pay a cash dividend of $2.65 per share of common stock.

"We're pleased to have generated over $41bn in net income and over $50bn in operating cash flow in fiscal 2012," said Apple chief financial officer Peter Oppenheimer.

He forecast that Apple would bring in about $52bn in revenue in the current fiscal quarter.

The earnings fell short of Wall Street expectations, and Apple shares were down slightly to $609.21 in after-market trades.

- Finance24


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