As Apple gears up for the launch of its iPhone 6, with an anticipated initial run of 80 million units, the company has reported a 12.7 percent profit growth for its current model. However, the company also noted that iPad sales fell for the second straight quarter, with unit sales falling 9.2 percent after a 16 percent drop the previous quarter. With a significant jump in iPhone sales internationally, and a move toward bigger-screen models, some are questioning the future of Apple’s tablet.

“The consumer electronics giant said it sold 35.2 million iPhones in the quarter ended June 28, up 12.7 percent from a year earlier and just shy of analysts’ estimates,” reports The Wall Street Journal. “Apple said the growth was helped by demand from Brazil, Russia, India, and China — collectively known as the BRIC countries — where iPhone sales rose 55 percent.”

“The iPhone growth propelled Apple’s profit in its third quarter to $7.75 billion, up from $6.9 billion in the year-ago period,” notes WSJ. “Revenue rose 6 percent to $37.4 billion.”

While Apple has experienced consistent growth in recent quarters, the company will likely need to enter new product categories in order to continue such success. Insiders say that Apple is banking on the larger iPhones and a series of smartwatches to launch later this year.

News broke yesterday that Apple was awarded a patent for a smartwatch design called iTime that features sensors, in-strap circuitry, and support for arm and wrist gestures.

“The U.S. Patent and Trademark Office served up further evidence on Tuesday that Apple is designing a smartwatch when it awarded the company a patent for a wrist-worn gadget with a touchscreen and ability to communicate with a smartphone,” reports PCWorld.

“Apple is widely expected to introduce an ‘iWatch’ device with functionality very similar to that described in the patent,” adds AppleInsider. “Previously the stuff of rumors, evidence that the connected device exists is quickly mounting. According to the most recent speculation, Apple’s first foray into the wearables game may sport a ‘slightly curved’ 2.5-inch OLED display and could come in three sizes. The device is also said to have a heavy focus on health and wellness, with possible fitness tracking functions built-in.”