Apple has reported a record breaking quarter for the period which ended December 31, 2012, with revenue of $54.5 billion and net profits of $13.1 billion. This compares to the firm's same quarter the previous year of $46.3 billion in revenue and net profits of $13.1 billion.

Apple now has the considerable sum of $137.1 billion in cash.

47.8 million iPhones were sold during the quarter, up from 37 million in the same quarter of the previous year. Likewise, iPad sales are way up, from 15.4 million units to 22.9 million. The iPhone market share in the US is now over 50 per cent.

Sales of the iPad would likely have been even higher with demand for the new iPad mini proving to be much greater than Apple was able to supply.

Sales of Mac products did fall, however, down from 5.2 million units to 4.1 million, and is partly to blame for a 10 per cent dive in Apple's stock in after-hours trading. Apple expects Mac sales to pick up, with people holding off buying older models while waiting for the latest version.

If iPad continues to sell at its current rate we could see close to 90 million units sold in 2013, meaning more units sold in one year than the Xbox 360, PS3 or Wii have managed in their lifetimes.

iPhone sales are, however, on another level, shifting approximately four million units each week. Continue at this pace and 200 million devices will be sold in 2013.

Source: GamesIndustry International