Apple's profits fail to meet expectations as iPad sales plummet
Apple CEO Tim Cook said the company's sales had met internal projections even as the tech giant's total profit, reportedly 7.75 billion dollars in the third fiscal quarter, did not meet analysts' predictions.
While Cook agreed that the demand for iPads had gone down, he said that the company sold 13.3 million iPads.
Apple's iPads are the company's second largest revenue generator after the iPhones.
In a conference with analysts, Cook blamed the demand in certain regions including the U.S. that resulted in reduction of sales of iPads.
He added that they had been optimistic about the sales of tablets and they would bring new innovations in their services.
Cook also said that the market for iPads was weak in the United States as compared to developing BRIC countries.
According to CNET, Apple now faces still competition from Google's Android devices that are comparatively cheaper.
(Posted on 23-07-2014)
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