Apple has new products 'we can’t wait to introduce'

US technology giant Apple reassures investors after results show sales of iPhones and iPads could be losing momentum

close-up of apps on an Apple iPhone 4G smartphone
Apple sold more than 35.2m iPhones during the third quarter Credit: Photo: Alamy

Apple reassured investors that it has a line-up of new products in the pipeline, as a lukewarm set of results stoked fears that its flagship iPhone and iPad devices could be losing momentum.

The US technology company shipped more than 35.2m iPhones during the third quarter – some 13pc more than it managed in the same period last year, but still lagging slightly behind analysts’ forecasts. Sales of the iPad fell 9pc to 13.2m.

Luca Maestri, chief financial officer, said that many customers had decided to delay their purchases until later in the year, as they waited for Apple to release its new products.

Tim Cook, chief executive, added that the market for iPads was still in its “early days”, and that he stands by his earlier prediction that tablets will eventually out-sell traditional desktop computers.

“That theory is still intact. We just have to do some more things to get [demand from businesses] moving at a faster trajectory,” he said.

However, analysts were more eager to hear about the new products Apple has coming up. Mr Cook told investors that he was “incredibly excited” about the new products and services around the corner, “that we can’t wait to introduce”. The notoriously secretive company did not go into specific details, but it is widely expected to unveil a so-called “smart” watch and is also rumoured to be close to launching a sophisticated Apple TV.

Overall sales increased 6pc to $37.4bn, lagging slightly behind expectations, but its profits came in ahead of forecasts at $7.7bn.

The jump in Apple’s bottom line was partly fuelled by surging demand in developing markets, especially China where Mr Cook’s sustained charm offensive appears to be paying off. Sales of its iPhones jumped 48pc year on year, after Apple signed a deal with China Mobile, the world’s largest mobile network, to start selling its phones through the business.

“China was surprising to us – we thought it would be strong but it went well past what we thought,” said Mr Cook.