Sales of Apple's iPod halve in a year as CEO admits the device is a 'declining business'
Speculation is rife about the future of Apple’s iPod product after recent quarterly results revealed sales of the device have halved in a year.
Figures: iPod sales have halved
In addition, Apple CEO Tim Cook responded to the news by admitting that the company had “known for some time that iPod is a declining business”.
The company’s quarterly figures showed that just over six million iPods were sold in comparison to 12.7 million during the same period in 2012, representing a decrease of 55 per cent in revenue and 52 per cent in units sold.
However, demand for iPhones and iPads pushed Apple’s sales up to a record $57.6bn, indicating that the future of the iPod may lie in the evolution of smart technology such as wearables, like Apple’s anticipated iWatch.
In the three months to the end of December, Apple sold 51 million iPhones, three million more than the same period in 2012, and profits sat at just over £13bn overall.
Cook said: “We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, software and services.”
Despite strong sales, a lack of investor confidence in the company’s rate of growth led to a drop in value of $40bn.