Sales of new 'iPad 3' help double Apple's profit

 

Apple sold 12 million iPads in first three months of 2012.

Technology giant Apple has announced a massive increase in profits, helped in no small part by sales of its latest iPad tablet.

Between the start of January and the end of last month, Apple's net profit was $11.6billion (£7.2billion), up from $6billion in the first three months of 2011.

During the quarter, Apple sold 35 million iPhones globally, almost double the number it shifted worldwide in the same time period last year.

Meanwhile, sales of the iPad came close to hitting 12 million. Released on 16 March, the latest version of the Apple's tablet is often dubbed the "iPad 3" but officially branded "the new iPad".

Chief executive Tim Cook said he was "thrilled" with initial sales of the device.

"The new iPad is off to a great start, and across the year you're going to see a lot more of the kind of innovation that only Apple can deliver."

Apple is rumoured to be working on a follow-up to the iPhone 4S, which it released back in October last year. The company has yet to confirm whether an "iPhone 5" will be launched in 2012.

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