Video vox-pop: Cash strapped consumers and tiny technology breakthroughs blamed for poor profits at computer giant Apple
LESS money in our pockets, a lack of available stock and smaller leaps in technology have hit profits at Apple, according to retailers selling its products in Swansea.
Apple announced its profits for the second quarter of the financial year — the three months to the end of March 2013 — were down £1.38billion to £6.27billion.
Tim Cook, Apple's CEO, said: "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."
AT Computers has been selling Apple products on Princess Way in Swansea for five years, but a store worker at the outlet said business has been significantly down this year.
Daniel Moore works on sales in the Swansea store and said: "The products that we sell seem to still be ahead of the market.
"I think it is just people are not spending.
"We are just not getting the footfall that we used to get.
"People just don't seem to be spending as they would a couple of years ago.
"You can definitely see the difference in the last two years."
Technology-hungry consumers queued from the door of AT Computers to the nearby McDonald's restaurant for the launch of iPad 2 in 2011, but recent launches have not generated similar levels of hysteria.
Mr Moore said: "One problem we are having is we are not getting the stock from Apple.
"We are missing out on a lot of the sales because we are not getting the stock.
"iMacs are taking weeks to come through, which is crazy."
Apple's success in the past has largely been credited to former CEO Steve Jobs, who died in October 2011 and oversaw the development of its core products.
The next big product likely to hit the shelves from Apple will be an upgrade to the iPhone 5, which was released last year.
Mr Moore added: "The last iPad update wasn't a major update so we didn't get the queues that time.
"The last time we had the big queues was for the iPad 2, which was such a leap forward because the first iPad didn't have a camera and a lot of people wanted the camera."
Analysts have suggested that Apple needs additional products rather than just updates to stay ahead of the competition.