Apple Logs Double-Digit Growth In India iPhone Sales In December Quarter
Tech giant Apple registered a double-digit rise in iPhone sales in India, and witnessed strong demand for iPads in the December quarter.
The Cupertino-based company posted its highest-ever quarterly revenue at $91.8 billion, an increase of 9 percent from the year-ago quarter. Its net profit also hit an all-time high of $22 billion.
International sales accounted for 61 percent of the quarter's revenue. "We had double-digit growth in many developed markets, including the U.S., the U.K., France and Singapore, and also grew double digits in emerging markets led by strong performances in Brazil, Mainland China, India, Thailand, and Turkey," Apple Chief Executive Officer Tim Cook said in an investor call.
He added that revenue from iPhones in the December quarter was up 8 percent to $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.
Mac (Apple PCs) and iPad generated $7.2 billion and $6 billion in revenue, respectively, in the quarter under review. Apple is placing big bets on the Indian market. Over the past months, it has ramped up its manufacturing efforts in the country.
Last year, Apple had started production of iPhone XR in India for 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.