News Byte: Apple Sales Up, Earnings Down, Spirits Up

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Cook's hopes are in the Air.
Cook's hopes are in the Air.

Apple yesterday announced what it said were record revenues of $37.5 billion and iPhone sales of $33.8 million for its fourth quarter ending in September. However, earnings fell 9% to $7.56 billion dollars as the company looked to turn back the tide of eroding market share with lower pricing and even free phones and software.

Apple CEO Tim Cook said offers such as free iPhone 4S models and operating system software for Mac PCs, along with the introduction of the first 64-bit smartphone, are aimed at firmly establishing the company's products as the standard among early adopters. “The 64-bit smartphone features the first use of the fingerprint sensor, pretty profound from a security point of view,” Cook said. Offering the 4S free, he allowed, was Apple's “entry offer to allow access to [our] entire ecosystem.”

Apple's iOS-driven phones represented 16.1% of global sales in the first half of this year, down from 19.1% in 2012, according to Gartner research.

Cook said he was looking forward to strong Christmas sales of its new tablet offerings—the one-pound iPad Air ($499) and the iPad mini ($399), both of which feature retina display graphics. “We think it's going to be an iPad Christmas,” Cook said.

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