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Apple posts 21% profit boost Wednesday, 25th July 2012
Apple has disappointed analysts in spite of posting a 21 per cent year-on-year increase in profits to USD 8.8 billion and a 23 per cent revenue boost to USD 35 billion after the company missed Wall Street targets.
It is believed the company was hit by a reduction in the amount of iPhone sales as customers hold off ahead of the iPhone 5 launch later this year.
iPhone sales rose 28 per cent to 26 million, far below the figure that many analysts were expecting. Sales of the iPad grew 84 per cent year-on-year to 17 million.
European sequential sales dropped 7 per cent, whereas in the Asia-Pacific region they dropped by almost 25 per cent from the last quarter.