Apple profits fall but iPhones keep selling
October 30 , 2013
Given that people are buying the lower-priced Apple devices, the company's quarterly earning fell 9 percent more.
The fourth-quarter results included early sales of the two new iPhones namely, 5C and 5S released by Apple last month. Although, the devices helped the company increase its sales, the average prices it fetched for its iPhones dropped.
This has depressed its stock price and marked another consecutive quarter where Apple's earnings have fallen from last year.
The number of iPhones that Apple sold in the past quarter were 33.8M, which is a 26 percent increase from the same time a year ago. However, the prices for those phones, fell by seven percent as compared to last year.