Apple profits fall for first time in a decade

 Apple said it sold 37.4 million iPhones and 19.5 million iPads worldwide in the three-month period.

Computer and smartphone maker Apple has reported its first quarterly drop in profits in a decade, but said it will raise dividends for shareholders.

It made a net profit of $9.5bn (£6.2bn) in the January to March quarter, down from $11.6bn last year.

But the results were better than many had expected, as strong iPhone and iPad sales boosted revenues to $43.6bn.

Concerns over slowing demand for its products amid increased competition have hurt Apple's share price recently.

"Though we've achieved a credible scale and financial success, we acknowledge that our growth rate has slowed and our margins have decreased from the exceptionally high level we experienced in 2012," Tim Cook, chief executive of Apple said.
Source: BBC



Posted by Unknown 4/24/2013