Apple Enjoyed Strong Q1 Sales Of iPad and iPad mini

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During the first three months of this year, Apple say strong growth in its tablet sales. Sale were up over 65% from the same quarter of 2012.

The there were 19.5 million iPads sold during the quarter, compared to 11.8 million in the year-ago quarter. The figure was slightly lower than last quarter, but the holiday shopping season generally makes Q4 stronger than Q1.

Apple did not answer the question on many an analyst’s minds: how many of Apple’s tablets were the full-size iPad and more many were the new iPad mini.

A hint came from Peter Oppenheimer, the company’s Chief Financial Officer. “We sold significantly more iPad minis in the March quarter than the December launch quarter.”

And the CFO had more good news for Apple investors: “The market suggests iPad mini purchasers are first-time iPad customers.” There are concerns among some investors that sales of the cheaper mini are cutting into sales of the larger version, which carries a higher profit.

A Wider Perspective

Apple sold 37.4 million iPhones Q1, compared to 35.1 million in the same quarter of last year. It sold just under 4 million Macs, compared to 4 million in the year-ago quarter.

While the company remains highly profitable, it was less so than it was in Q1 of 2012. The company’s quarterly profit was $9.5 billion, $11.6 billion in the first three months of last year. The company’s revenue was up however, $43.6 billion vs. $39.2 billion.

Tim Cook, Apple’s CEO, had an up-beat note: “Our teams are hard at work on some amazing new hardware, software, and services and we are very excited about the products in our pipeline.”

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