iPad Sales Bounce Back After 13-Quarter Slump

The iPad is back. Or is it?

After 13 consecutive quarters of declining sales, Apple reported a 15 percent increase in iPad sales for its third fiscal quarter that ended July 1. The company sold 11.4 million units, up from 9.9 million units a year ago.

The uptick in sales comes after Apple unveiled a bunch of new iPads earlier this year, including new 9.7-inch model starting at a reduced price of $329. The latter probably drove a significant portion of sales in the past quarter, which explains why iPad revenue increased by just 2 percent as opposed to the 15 percent increase in unit sales.

iPad revenue amounted to $5.0 billion (up from $4.9 billion) as the average selling price dropped from $490 in Q3 2016 to $435 in the most recent quarter.