Apple profits hit £5.7bn but iPhone growth slows

The technology firm sold 26 million iPhones during the quarter (its third financial quarter), a 28% increase year on year.

In the first quarter of the year it sold 35.1 million iPhones in an 88% increase year on year, while in the final quarter of 2011, it sold 37 million and reported record revenue and profit.

Revenues for the quarter ended 30 June hit $35bn (£22.5bn), up 28%

This was short of the Q4 2011 record of $46.3bn (£29.bn), but this quarter did bring a record for the number of iPads sold, which rocketed 84% year on year to 17 million.

Sales of Macs rose 2% to four million and sales of iPods continue to fall, with a 10% decline to 6.8 million.

Peter Oppenheimer, Apple's chief financial officer, said the company expected revenues of about $34bn (£22bn) in the fourth quarter. This figure, being lower than the third quarter, has led to speculation that the much-rumoured iPhone 5 will not launch next quarter.

The last major upgrades to the phone came with the arrival of the iPhone 4 in June 2010 and the iPhone 4S in October 2011.

Tim Cook, chief executive of Apple, said: "We've just updated the entire MacBook line, will release Mountain Lion [desktop operating system] tomorrow, and will be launching iOS 6 this fall."

This article was first published on marketingmagazine.co.uk