Apple has reported the number of iPads in sold in the three months to September were lower than market watchers had been expecting.
Apple reported it sold 14 million iPads for its fourth quarter of 2012. Anaylst and executives blamed iPad Mini rumours for dampening demand. Meanwhile, continued to flock to the iPhone, selling 26.9 million of them in the quarter - a 58 percent year-on-year increase.
Sales of its iPad were also up 26 percent year-on-year, but analysts were predicting it would sell more than the 14 million it racked up..
According to Gartner research vice president Carolina Milanesi the iPad sales figures were a result of the expected release of the iPad Mini and consumers waiting for the holiday season to make purchases.
"IPad sales were a touch lower than expected but not a surprise considering the expectations around the arrival of the iPad Mini and, also, as some consumers would have waited for Christmas to purchase," Gartner research vice president Carolina Milanesi said to V3.
Apple chief executive Tim Cook also pointed to Apple leaks as a culprit for the lower than expected iPad sales. Cook admitted during a conference call with investors that iPad Mini rumours may have hurt sales in August and September.
"It's clear that customers delay purchases of tablets due to new product rumours. These intensified in August and September. Some of that was anticipated, some of that I wish didn't occur, but it did occur," said Cook..
Apple's iPhone sales helped propel the company to $36bn in revenue for the quarter. Profits, however, failed to meet market expectations and came in at $8.2bn.
During his call with investors Cook also took the time to clarify why the iPad Mini costs more than its 7in rivals. Cook harped on Apple's commitment to quality and said he doesn't believe the Mini's competitors are in the same class as the newest member of the iPad family.
"We've seen low-cost competitors before. We think customers are very smart and have very high expectations. They want a device that can do more," Cook said.
"We're confident that our focus on making the best product is what will win at the end of the day."
Another iPad Mini revelation that came out during Cook's talk with investors was Cook's dismissal of the iPad Mini as a 7in tablet. He called 7in tablets "compromised products" and pointed to the larger 7.9in iPad Mini screen as better overall.
"Let me be clear, we would not make a 7in tablet, we don't think they're good products. One of the reasons is size. The difference on just the real estate size [between the iPad Mini and its competitors] is almost 30 percent," continued Cook.
"iPad Mini is a fantastic product, it's not a compromised product like the 7in tablets."
Cook's comments were spurred on by an investor question which mentioned Steve Jobs one time dismissal of tablets smaller than 10in.
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