Slow iPhone Growth Causes Decline in Apple’s Profit

Apple Headquarters at Infinite Loop, Cupertino, California | Wikipedia

Apple Headquarters at Infinite Loop, Cupertino, California | Wikipedia

According to a year-over-year comparison, it was revealed that Apple’s net profit dropped during the second quarter of 2013. This decline could be attributed to the slow shipment growth of iPhone.

Apple’s Q2 2013 Profit Record

Last Tuesday, the iPhone maker revealed that they earned $9.5 billion during the second quarter that ended last March 30. That is a decline in profit compared to the $11.6 billion that the company acquired during the same quarter of the previous year.

On the other hand, Apple’s revenue grew from $39.19 million during the same quarter a year ago to $43.6 billion. Meanwhile, iPhone sales increased to 37.4 million units while Mac sales were flat, which total to 4 million units during the recent quarter. The iPad recorded fast growth, with shipments reaching 19.5 million during the quarter.

New Apple Products in the Works

In addition, Apple CEO Tim Cook stated that new products are now in the works. It is expected that announcement will be made during their Worldwide Developer’s Conference 2013. The said event is usually held in June in the San Francisco Bay Area.

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