Apple blame iPad Mini rumours for slower than expected iPad sales

By Danny Palmer
26 Oct 2012 View Comments
iPad iPhone

Apple has blamed rumours about the iPad Mini for lower-than-expected sales in its fiscal fourth quarter.

The profits of $8.2bn (£5.1bn) are slightly lower than analysts expected, but up on the $6.6bn (£4.1bn) the firm made in the same quarter last year. The firm sold a higher-than-forecast 27 million iPhones, a 58 per cent jump in sales.

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However, despite increased overall sales of 26 per cent, the figure of 14 million iPads sold was lower than expected, with Apple blaming a seasonal slowdown and rumours about new products.

"In addition to all of that, it's clear that customers delay purchases of tablets due to new product rumours, and these intensified in August and September," Apple CEO Tim Cook told investors.

However, Cook said the firm's outlook is bright.

"We're very proud to end a fantastic fiscal year with record September quarter results. 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," he said.

Rumours of an iPad Mini floated around for some time, with images of the device even published online. Apple finally revealed it to the world, along with a fourth-generation iPad, at a press conference earlier this week. Apple expects the new products will lead it into a very strong Q1.

"Looking ahead to the first fiscal quarter of 2013, we expect revenue of about $52bn [£32.3bn] and diluted earnings per share of about $11.75, [£7.30]," said Apple CFO Peter Oppenheimer.

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