Apple has announced yet another record quarter, clocking profits of $13.1bn after shifting 51 million iPhones and 26 million iPads in the three months ending in December.
But the figures actually fell short of what analysts were expecting, and Apple CEO Tim Cook has suggested the blame lies with weaker than expected sales of the iPhone 5c.
Analysts had predicted Apple would shift 55 million iPhones and 25m iPads on the way record total revenues of around $58.1bn. In the end, the final figure of $57.6bn was still a record, and was at the upper end of Apple's own guidance of $55bn-$58bn, but Apple's shares nonetheless took an 8% hit once the numbers were announced.
Cook insisted Apple was “really happy with our record iPhone and iPad sales”, which were up on the respective 47.8m and 22.9m figures for the same quarter a year ago.
However, during Apple's earnings call he admitted Apple had misjudged the demand for the iPhone 5c, and sales had suffered as a result.
“It was the first time we ever ran that play,” Cook said of offering a cheaper variant of its iconic smartphone for the first time, “and demand percentage turned out to be different than we thought.
“The mix was stronger to the 5S, and it took us some amount of time to build the mix that customers were demanding.”
It's not clear by just how much the “mix was stronger” – the earnings report doesn't break down the overall sales number into figures for each handset – but Cook wasn't interested in talking about potential price cuts for the iPhone 5c.
“If we think it's in our best interest to make a change, then we'll make one,” he said.
Via The Verge