The share price of the technology company Apple declined in Wednesday’s trading after the company reported earnings less than had been predicted by analysts.
Apple has just introduced a new version of its popular iPhone, called the 4S, which set a sales record in the first few days after it was introduced.
But sales of the previous model, the iPhone4, sagged because many potential customers delayed their purchases until the new model became available earlier this month.
Apple may make up the difference quickly, selling 4 million of the new phones in just the first three days it was available.
Apple faces competition from phones running a rival computer operating system called Android from Google. The company has just released a new version of its software while Samsung has introduced a new phone called the Galaxy Nexus to run it.
The new Android operating system includes upgrades that make it easier for users to share web pages, videos and programs. The new Android phone can also be set to unlock only when it recognizes the owner’s face.