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iPhone sales soar, but Apple profits drop

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iPhone sales soar, but Apple profits drop

Apple sold a massive 33.8 million iPhones in the three months from July to September, smashing its previous record for the quarter.

The number represents a substantial jump from the tech giant's sales of 26.9 million in the same period last year and 31.2 million handsets shifted from April to June this year.

That headline number covers the launch of the iPhone 5s and iPhone 5c, which accounted for nine million sales in their opening weekend alone.

However, both devices only launched in the last week of the reported period, suggesting iPhone 5 sales remained strong over the summer.

Despite these impressive results, Apple profits slipped to $7.5 billion, down from $8.2 billion in the same quarter in 2012.

The number has led some analysts to question whether the iPhone 5c, which is believed to be selling at a far slower rate than the iPhone 5s, is priced low enough to entice cost-conscious customers.

Apple’s reliance on the iPhone was brought home by meagre iPad growth. 14.1 million tablets were shifted over the three months, compared to 14 million last year.

It’s been suggested by Barclays Research that the iPhone accounts for 53% of Apple’s annual revenue. The iPad makes up just 19%.

iPhone sales are likely to jump again in the run up to Christmas, with iPad sales potentially thriving thanks to the release of the iPad Air and iPad mini with Retina Display.

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