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Apple cuts ties with iOS and retail VPs

Posted: 31 Oct 2012 ?? ?Print Version ?Bookmark and Share

Keywords:iOS? Tim Cook? Scott Forstall? structural shakeup? iPhone 5?

Apple concerned over gross margins
Apple last week reported fiscal fourth quarter sales of $36 billion, up 3 per cent from the previous quarter and up 27 per cent compared with the year-ago quarter. The company reported a quarterly net profit of $8.2 billion, down 7 per cent from the previous quarter and up 24 per cent compared with the year-ago quarter.

Apple said it expected sales for the current quarter, which closes at year end, to grow to $52 billion, compared with $46.3 billion in the same period last year. Apple raised eyebrows by saying it expects gross margins to fall in the quarter to 36 per cent from 40 per cent in what is typically its strongest quarter of the year.

Peter Oppenheimer, Apple's chief financial officer said in a conference call with analysts following Apple's quarterly report that the company currently has more new product form factorsincluding the iPhone 5, iPad Mini, iMac, MacBook Pro 13-inch, iPod Touch and iPod Nanothan it has ever had before. "All of these products have higher costs than their predecessors, and therefore lower gross margins as they are at the height of the cost curve," Oppenheimer said.

Based on the strength of the popularity of the iPhone 5, launched near the end of the fiscal fourth quarter, Apple said it sold 26.9 million iPhones in the quarter, up 58 per cent from the year-ago quarter. The company reported that iPad unit sales grew 26 per cent year-over-year to 14 million.

- Dylan McGrath
??EE Times


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