Technology giant, Apple has recorded better than expected sales during its third quarter backed by higher demand for its devices around the world.

The company said that it earned a profit of $6.9 billion during the three months till June backed by high sales of its flagship, Apple iPhone smartphone. The company said that the company said that it sold a total of 31.2 million iPhones, which is the highest ever for the June quarter compared to 26 million recorded in the same quarter of the previous year.

The company's profit fell 22 per cent during the quarter compared to the same quarter in the previous year. Its profit margin fell to about 36.98 per cent compared from 42.8 per cent. The average sale price for the company's products fell to $581 compared with $608 in the previous year. Its revenues rose to $35.3 billion compared to $35 billion earlier.

According to Topeka Capital Markets, Apple investors are looking at the new fiscal year of the company with confidence with a slow of new devices. Some reports also suggest that the company might start discounting the iPhone 4S and the iPhone 5 when it launches the next generation iPhone.