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As iPhone powers Apple's record revenue, India logs in

Source: PTI  -  Edited By: Saisuresh Sivaswamy
January 29, 2020 15:08 IST

Tech giant Apple registered a double-digit rise in iPhone sales in India, and witnessed strong demand for iPads in the December quarter. 

IMAGE: CEO Tim Cook presents the new iPhone 11 Photograph: Stephen Lam/Reuters

The Cupertino-based company posted its highest-ever quarterly revenue at USD 91.8 billion, an increase of 9 per cent from the year-ago quarter. Its net profit also hit an all-time high of USD 22 billion. 

International sales accounted for 61 per cent of the quarter's revenue. 

"We had double-digit growth in many developed markets, including the US, the UK, France and Singapore, and also grew double digits in emerging markets led by strong performances in Brazil, Mainland China, India, Thailand, and Turkey," Apple CEO Tim Cook said in an investor call. 

 

He added that revenue from iPhones in the December quarter was up 8 per cent to USD 56 billion on account of "exceptional demand" for models like iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max. 

"For iPad, we saw growth in key emerging markets like Mexico, India, Turkey, Poland, Thailand, Malaysia, the Philippines and Vietnam," Cook said. 

Macs (Apple PCs) and iPads generated USD 7.2 billion and USD 6 billion in revenue, respectively, in the quarter under review. 

Apple is placing big bets on the Indian market. Over the past few months, it has ramped up its manufacturing efforts in the country. 

Last year, Apple had started production of iPhone XR in India for the domestic market and exports. Apple's partner Salcomp is also taking over the closed facility of Nokia in a SEZ near Chennai. The facility is expected to become operational from March this year and will produce charger and other equipment. 

According to research firm Counterpoint, Apple was one of the fastest-growing brands in India during the December quarter. 

This was driven by multiple price cuts on its XR device, thanks to local manufacturing in India, it had said. 

It added that the rollout of new iPhones (11 series), aggressive pricing and a good channel strategy was helping Apple gain market share in India. 

The tech titan is also bringing its 'HomePod' smart speaker to the Indian market. 

While the company is yet to announce the launch date, sources said it could be made available in India by the end of February. 

Priced at Rs 19,900, the HomePod will compete with smart speakers like Google Home and Amazon Echo in the Indian market. 

Source: PTI  -  Edited By: Saisuresh Sivaswamy© Copyright 2020 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
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