Apple (NASDAQ:AAPL) saw a decline in iPad sales for the first time according to its recently released third-quarter results. The Cupertino, California-based company sold 14.6 million iPads during the June quarter, 2.4 million less than the amount it sold in the same quarter last year.
Although this statistic alarmed some Apple watchers, the year-over-year decline in iPad sales is hardly surprising considering the fact that Apple released a new iteration of its tablet in March 2012. In this sense, comparing iPad sales figures from the June quarter in 2012 to the same quarter in 2013 is like comparing apples to oranges.
However, it should also be noted that the majority of the iPad sales drop is directly attributable to a “1.9 million unit channel inventory swing,” as stated by Chief Financial Officer Peter Oppenheimer during the third-quarter results conference call, Yahoo Finance reports. “We built 1.2 million units of iPad channel inventory in the June quarter last year whereas we reduced channel inventory by 700,000 units in the June quarter this year.”