Shares in technology giant Apple fell by almost 9% following a warning to the markets that sales for 2014 are likely to be behind expectations.

The company said that profits for the quarter ending January were flat, although they have not fallen since 2003, and despite a strong performance in China, where revenue rose by 29%. Total revenue has slowed from 73% two years ago to just 6% in the first quarter of 2014.

Although the company sold a record 51 million iPhones and 26 million iPads, sales of iPods fell 55%.