Apple’s India Business Doubled in December Quarter, Says CEO Tim Cook, Optimistic About Trajectory

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Apple doubled its enterprise in India within the quarter that ended December 26, CEO Tim Cook dinner revealed throughout an earnings name on Wednesday. The brand new achievement by the Cupertino firm comes alongside posting an all-time excessive income of $111.four billion (roughly Rs. 8,14,270 crores) globally that elevated 21 % year-over-year. The launch of the iPhone 12 collection has considerably helped Apple generate the document income, with its lively put in base of iPhone fashions crossing one billion milestone. In India, notably, the corporate ventured into retail with its on-line retailer and is shifting in the direction of establishing offline shops.

Whereas responding to analysts, Tim Cook stated that Apple doubled its India enterprise within the December quarter in comparison with the year-ago quarter. The 60-year-old govt, nonetheless, highlighted the scope for additional progress within the nation.

“India is a type of the place our share is sort of low,” stated Cook dinner whereas answering a query from an analyst, with out offering any particular knowledge. “It did enhance from the year-ago quarter. Our enterprise roughly doubled over that time frame. And so we really feel superb in regards to the trajectory.”

Apple marked 93 percent year-over-year growth in India in 2020, in line with analyst agency Counterpoint. The corporate additionally doubled its smartphone market share within the nation to just about 4 % within the quarter that led to December, analysis agency CyberMedia Analysis reported just lately.

In September, Apple launched its online store within the nation to begin promoting its merchandise natively. Cook dinner said that the final quarter was the complete first quarter of the web retailer and it acquired a “nice response” from Indian shoppers that helped obtain its quarterly progress.

“We’re additionally stepping into there with retail shops sooner or later and so we glance to that to be one other nice initiative, and we proceed to develop the channel as nicely,” stated Cook dinner — giving a transparent trace on the launch of offline Apple stores within the nation.

Apple reported that it now has an active installed base of 1.65 billion devices, up from 1.5 billion units a 12 months in the past. Amongst different units, the corporate has an put in base of over a billion iPhone units. This exhibits an increment from the over 900 million put in base of iPhone units it reported in 2019.

Along with the expansion of the iPhone, Apple has seen the iPad and Mac rising 41 % and 21 % year-over-year, respectively, within the December quarter. This was largely owing to the pandemic that pushed plenty to work and examine from residence.

“We noticed sturdy double-digit progress throughout each product class, and we achieved all-time income information in every of our geographic segments,” Cook dinner stated.


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