San Francisco, CA
Apple's third quarter earnings were below expectations of analysts and Wall Street even though the company sold 17 million iPads, the most it has ever sold. iPad sales were 26 percent of the company's revenue, iPhone sales made 46 percent, Mac computers were 14 percent, the iPod 3 percent, and iTunes revenue profit amounted to 6 percent.
Apple CEO Tim Cook said via CNET:
"We're thrilled with record sales of 17 million iPads in the June quarter. We've also just updated the entire MacBook line, will release Mountain Lion tomorrow, and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we've got in the pipeline."
In its third fiscal quarter report, Apple stated to have earned $8.8 billion from their $35 billion revenue. The same quarter a year ago, Apple reported profits of $7.31 billion and $28.57 billion in revenue. The company may have not surpassed expectations by analysts and Wall Street, but Apple did surpass their very own expectations. Apple predicted revenue of about $34 billion.
Wall Street also predicted that Apple would sell 4.1 million Mac computers but Apple reported sales of only 4 million Macs. The sales of Mac have slipped by 18 percent and the sales of iPods decreased by 10 percent compared to last year.
With the company's earning, stockholders are entitled to receive a price of $2.65 per share.
The total iPhones sold during the third quarter was 26 million.
Wall Street predicted that the company would be able to sell 3 million more units. The 3.7 million units sold were reported by carrier provider AT&T while 2.7 million units were sold through Verizon.
Apple's revenue was boosted by the sales in China, where the citizens are as fanatic about Apple products as their Americans counterparts are.
Apple Wants $2.5 Billion From Samsung
Apple is looking to cash in on its claim that Samsung has infringed on its patents in the United States. Apple is estimating the damages could net them $2.5 billion. It is just one of the claims that Apple has filed against Samsung. There are currently over 30 cases pending between Apple and Samsung in different parts of the world.
The amount was calculated by Foss Patents' Florian Mueller and is "based on the per-unit royalties that Apple believes it is due from Samsung as part of the intellectual property rights lawsuit."
Mueller was quoted by CNET stating, " Apple conservatively estimates that as of March 31, 2012, Samsung has been unjustly enriched by about [redacted; presumably $2 billion] and has additionally cost Apple about $500 million in lost profits. Apple also conservatively estimates that it is entitled to over $25 million in reasonable royalty damages on the proportionately small set of remaining sales for which it cannot obtain an award of Samsung's profits or Apple's own lost profits, for a combined total of $2.525 billion."
According to Apple, it will cost Samsung $3.10 per unit for the infringement of the '915 patent -- the scrolling API technology. Samsung will have to fork over another $2.02 per unit because it allegedly stole the '318 patent -- the bounce once users reach the bottom of a screen and an additional $24 per unit for Apple's "design patents of trade dress rights."
Those are just some of the patent infringements Apple is claiming that Samsung has violated.
Just a few weeks ago, a United Kingdom judge ordered Apple to publicly acknowledge that Samsung did not steal any of their designs. A few days ago, a German judge ordered the ban of Samsung's Galaxy 7.7-inch tab in the European Union.
- Apple and Google Set to Bid for Kodak Patents
- Facebook's Zuckerberg 3 Billion Dollars Lighter in the Pocket
- Facebook and HTC Developing Smartphone
- Apple Looks into Investing in Twitter
- Apple Buys AuthenTec; Purchase is Major Blow to Samsung
- Apple Wins Injunction Against Samsung in Germany
- Apple iPads Dominate Almost 70% of Tablet Market
- Nokia Reports Net Loss of Billions
- Pennsylvania Hospitals Finding Patients on Google and Facebook
- Google Purges Outdated and Redundant Services
- How Much Does Google Stand to Profit From its Nexus 7 Tablet?
- Apple Cooks up DIY iOS Apps
- Clearing the Online App Store Submission Hurdle
- How to Design a Retail App
- Tune It Up: Developing Music Apps
- Nice Gesture, But What Does It Mean
- The Surprising Health Benefits of Texting
- Big Cable's Plan to Lock Down Your Future
- Ready for HTML5
- FDA Seeks to Tame Exploding Medical App Market
- Building a Productivity App
- App Developer Competitions: Worth It?
- Google Announces Nexus 7 Tablet PC
- Microsoft Unveils New Surface Tablet
- Tribute to the TV Remote Control
- The Internet Enhances Beer Muscles
Copyright © 2012 AHN - All Rights Reserved