GADGET DESIGNER Apple is expected to post record earnings in the fourth quarter following its launch of the Iphone 5, according to industry analysts.
Speaking ahead of the Iphone 5 launch event later today, IHS senior analyst Wayne Lam said that Apple's latest smartphone will put an end to Apple's falling sales figures.
During the second quarter of 2012 shipments of the Apple Iphone slumped 26 percent down to 25 million, compared to 35 million in the previous quarter.
"Apple's smartphone shipments typically are weak during the quarter preceding the launch of a new Iphone model," said Lam.
"Buyers historically have delayed their purchases until the newest model is available. Then they rush out to get the latest and greatest version once it's being sold, leading to a spike in demand. IHS predicts the same pattern will occur with the Iphone 5."
He added that tonight's launch could also lead to an increase in smartphone shipments globally, saying that the Iphone 5 will bolster total shipments by 74.2 million this year alone. IHS numbers indicate that sales will pick up from the middling 272.3m smartphones sold during the first six months of 2012.
Piper Jaffray analyst Gene Munster added that the Iphone 5 could be Apple's best-selling smartphone yet. He said that Apple could shift as many as 10 million Iphone 5 devices in its first week of release, which could lead to a bumper fourth quarter for the Cupertino, California company.