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Apple misses targets as iPhone hits 47.8 million in Q1

iPad comes in at 22.9 million

Apple misses targets as iPhone hits 47.8 million in Q1
Sales of Apple's iPhone 5 have failed to match analysts' high expectations, despite the firm selling 47.8 million units across Q1 2013.

The figures, released as part of Apple's quarterly earnings, also revealed that 22.9 million iPads were sold across the period.

To put those numbers in context, that means Apple sold more iPhones this quarter than the 26.9 million units it shifted in the previous quarter, and the 37 million units it sold during the same period in 2012.

No split

Apple's iPad, too, is up both year-on-year and sequentially, though the company failed to reveal the sales split between the fourth generation standard sized iPad and the iPad mini.

"We're thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter," said CEO Tim Cook.

"We're very confident in our product pipeline as we continue to focus on innovation and making the best products in the world."

Shares fall

Despite what would outwardly appear to be an impressive quarter, many analysts across Wall St had predicted Apple would sell north of 50 million iPhones in the quarter, with the company's shares down by more than 5 percent in the immediate aftermath of the results.

Rumours have recently suggested that Apple cut orders for iPhone 5 parts following slower than expected sales. The device got off to a record-breaking start with 5 million units sold over the course of its launch weekend.

In comparison, iPhone 5's closest competitor – Samsung's Galaxy S III – recently passed 40 million units sold, selling an average of what the Korean giant claims is 190,000 units a day.

Apple's iPhone 5, would appear to be selling at a rate of more than 525,000 units a day across the 13 week quarter, despite missing targets.

[source: Apple]

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.

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