iPad Posts Lower Sales

As customers are delaying purchases of iPad before iPad Mini is officially distributed, Apple has announced that its quarterly report is not that great, either.

Apple profit increased to US$8.22 billion with share price at US$8.67 for the fiscal fourth quarter. Although the numbers look impressive, these are much lower that earlier estimates of US$8.75 per share.

The company also sold about 14 million iPads, which is lower than the predicted 15.3 million. According to the industry observers, consumers are putting off buying the older iPad models for the official release of iPad Mini this quarter.

In a season when people are snatching up tablets and smartphones as gifts for the holidays, this is bad news for Apple. The company is also experiencing a shortage of iPhone parts.

The quarter should have been spectacular for Apple given that it launched an iteration of iPhone, upgraded the existing iPad models and rolled out new versions of its Mac computer line and iPod. These, however, are not enough to bring in spectacular results.

Wall Street and Apple fans are wondering whether this is the start of the end of Apple or maybe it’s too early to say.