Apple slumps as iPhones cheaper

APPLE products have been getting cheaper. That's good news for consumers but not for investors, who thought the company would keep boosting profits and revenues at its previous breakneck pace.

On Tuesday Apple Inc revealed that its growth slowed in the most recent quarter. In both revenue and net income, the company posted the smallest increases in years, and failed to meet analyst expectations.

It wasn't so much the volume of sales: Apple sold 17 million iPads in April to June period, beating expectations, and 26 million iPhones, at the low end of expectations.

But Apple's average selling prices for both gadgets declined to levels last seen in 2010 for the iPhone and the lowest levels ever in the case of the iPad.

Apple introduced a new iPad in March, but kept the older model in stores while cutting its price.

With a new iPhone, possibly called the iPhone 5 or new iPhone and probably only a month away iPhone 4's will only get cheaper. With the new model being larger like its Android competition if you prefer the smaller form factor perhaps spring for a cheap iPhone 4 and upgrading it to iOS6 isn't a bad idea.

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