Apple’s iPhones and iPads break sales records in Q1 2014, still fails to meet analyst expectations
This entry was posted on Monday, January 27, 2014.
Apple announced its earnings for the first fiscal quarter of 2014 on Monday, and the numbers being thrown about were nothing short of staggering. The Cupertino giant earned a $13.1 billion profit out of a revenue of $57.6 billion. It managed to sell a frankly incredible 26 million iPads and 51 million iPhones. Both of these figures beat Apple’s own records for sales in a single quarter, but it may still not have been enough to meet Wall Street’s expectations. Regardless, read on below the break to know more.
The sales figures of 51 million for iPhones and 26 million for iPads were calculated in the final quarter of 2013, and beat the previous record, set exactly 12 months prior to that period, when Apple managed to sell 48 million iPhones and 23 million iPads. These figures however fell below Wall Street predictions of sales of 56.5 million iPhones and 24.5 million iPads to get revenues of $58 billion.
Apple CEO Tim Cook did go on to later confirm in a conference call what many analysts had predicted, that the iPhone 5C was disappointing in terms of sales, or at least that its demand was ‘different than we thought’. He went on to say, "We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, Software and Services. We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better.”
The iPhone 5C may have been a disappointment, but the overall sales recorded by Apple go on to prove that Apple is in an incredibly strong position in the smartphone and tablets market.
Source: Apple Insider