Apple Profit Grows on iPhone, iPad Sales, Misses Wall Street Expectations

Apple (IW 500/9) on Thursday reported that its quarterly profit climbed to $8.2 billion on revenue that rose to $36 billion on the backs of hot-selling iPhones and iPads.

The California-based company said that it sold 26.9 million iPhones and 14 million iPads in the recently ended quarter, topping sales in the same period last year by 58% and 26%, respectively.

"We're very proud to end a fantastic fiscal year with record September quarter results," said Apple chief executive Tim Cook.

Confidence in New Product Pipeline

"We're entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline."

Apple on Friday will begin taking orders for Wi-Fi iPad mini models unveiled this week at a media event in the Silicon Valley city of San Jose.

The iPad mini's touchscreen measures 7.9 inches (20 centimeters) diagonally compared to 9.7 inches on the original iPad. A 16-gigabyte version of the iPad mini with Wi-Fi connectivity costs $329, while a 16GB model with both Wi-Fi and cellular capability costs $459. The top-of-the-line 64GB iPad mini with Wi-Fi and cellular connectivity will sell for $659.

Apple also unveiled a fourth generation of the original iPad for the same starting price of $499 for a 16GB model with Wi-Fi connectivity.

While the cheapest iPad mini costs $329, less than the original iPad, the device is still considerably more expensive than the seven-inch tablets from Amazon, Google and Samsung -- which start at $199.

Apple also introduced slick upgrades to its line of Macintosh computers, sales of which have outpaced the overall personal computer market for six years running.

Apple slimmed down its top-selling model, the 13-inch MacBook Pro, and gave it a "retina display" that boasts richer images than those on high-definition television sets. Starting price for the new MacBook Pro model was $1,699.

A new model iMac with the computing hardware built into its slim monitor promised to complement smartphones or tablets in modern lifestyles.