How could that be? Even Samsung was shocked. Kevin Packingham, chief product officer of Samsung's U.S. mobile arm, said in an interview on Friday that: "I was shocked by the numbers. I thought: What the heck is going on here?'"
The theory is that consumers who waited for the iPhone 5 announcement were underwhelmed by the new Apple smartphone, and opted for the Galaxy S III instead. Although T-Mobile did not comment on the story, it has to be a boon to T-Mobile, as the nation's No. 4 carrier has the Galaxy S III but does not carry the iPhone.
Late last week, both Apple and Samsung reported their results for the past quarter (Apple's fiscal year runs apart from the calendar year, so for the Cupertino, Calif.-based company it was fiscal Q4 2012). Apple boasted an $8.2 billion profit, while Samsung produced $7.4 billion in net income.
Apple projected earnings per share of $11.75 with revenue of $52 billion for its December quarter. Analysts had been expecting earnings of $15.41 per share on revenue of $55 billion for the period.
Apple finished Friday at $604.00, down $5.54 or -0.91 percent.