The technology company revealed revenue jumped 4 per cent year to $37.5bn (£23.3bn) within the three months to twenty-eight September spurred by sales of just about 34 million iPhones, a brand new record for the smartphone range within the quarter. The charges of constructing the devices dented margins, however, with the business posting a 8.6 per cent year-on-year drop in profit of $7.5bn (£4.7bn).

Apple’s iPad shipments inside the quarter totalled 14.1 million, rising slight from the 14 million a year ago. The corporate unveiled new tablets earlier this month including the most recent version of the iPad Mini because it looks to strengthen its share of the growing tablet category amid mounting competition from cheaper alternatives. The tech giant said the updates to its product lineup would make it an “iPad Christmas”.

The company’s earnings have now declined quarter-on-quarter three consecutive quarters after a decade of  growth. The shift has are available direct contrast with rival Samsung, which posted another another record quarter earlier this month. The South Korean tech firm, which generates the foremost growth from  its Galaxy range of smartphones, revealed a net profit increase of 26 per cent to eight.24 trillion won (£4.7bn) and a record 59.08 trillion won (£34.3bn) in revenue in its third quarter.

Apple chief executive, Tim Cook said the company’s foray into new categories in 2014 would spark renewed growth into the business.

He said: “In terms of recent product categories, specifically, when you inspect the talents that Apple has from hardware, software, and services, and a great app ecosystem, these set of items could be very, very unique, i feel nobody has a collection of skills like this, and we obviously believe that we are able to use our skills in building other great products which are in categories that represent areas where we don’t participate today.”