Apple’s very own Tim Cook admitted to being disappointed by the result of Apple’s latest quarterly results. He blames the company’s growth’s slowdown on hitches getting products into the Chinese market and the relentless hype about the iPhone 5 and its old enemy Europe.
All of these despite seeing their profits rise by 21% and their revenue increase year-on-year to $35 billion in total rakings. Apple’s sales of devices for their older iPhones (iPhone 4 and 4S) had suffered. They have sold only 26 million devices during their latest quarter. Why? Because people chose to wait for the elusive iPhone 5.
According to Tim Cook, Europe performed badly, which resulted to 30% growth only. Tim Cook said: “The geography that did not perform well was Europe. Europe was essentially flat and that really hampered our total result.”
“France and Greece and Italy, were particularly poor and Germany was also similarly a single-digit positive growth for the quarter. Eastern Europe was strong, materially stronger than Western Europe.”
Comparing the iPhone sales back in the US, it was up by 50% and Japan up by 45% compared to this time last year. Apple’s Oppenheimer also added that “fanboys” speculating about their new products contributed to the suppressed demand. But none of Apple executives admitted the impact of Samsung galaxy S3 on the market.