While we already tossed the rather rosy raw numbers at you, one tidbit lost in the general hubbub over Apple's obscenely profitable quarter is the fact that iPod sales are in fact down 7 percent from last quarter both in the number sold (10.55 million to 9.815 million) and revenue ($1.7 billion to $1.57 billion).

But, as Om Malik notes at the end of his [now updated] post if you look at the iPhone's sales ($148.5 million) it nicely fits into the $130 million hole left by the iPod's drop. Naturally, cannibalization comes to mind, possibly owing to the the fact that, the decline is actually seasonal between Q2 and Q3. The iPod line [still] needs some refreshment—it's the been the same ol', same ol' for a while now.

Which makes Chief Financial Officer Peter Oppenheimer's mention of a "product transition" during the current quarter all the more interesting. Cue the wild speculation as to which product he's referring to. [GigaOM & Forbes]

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