Highlights
- iPhone sales doubled in India
- Company is getting huge profit
- Customers are showing more interest than ever
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Apple’s business in India doubled in FY21
In fact, Apple has doubled its business in India in FY21, which shows how important emerging markets have become for the Cupertino giant in the long run.
Apple’s business grew in India and Vietnam
Apple CEO Tim Cook told reporters on a call with analysts that the company has reported results for its fiscal 2021 fourth quarter. “We set quarterly records with strong double-digit growth across the board in every geographic segment,” he added. During Fiscal Year 2021, we got about a third of our revenue from emerging markets and doubled our business (Apple’s business) in India and Vietnam.
Strong sales impact of iPhone 12 and iPhone 11
Although Apple didn’t highlight individual breakouts for each country, it’s clear that sales increased during the last quarter. According to research agency Counterpoint, Apple was the top-growth brand in the third quarter of 2021 with 212 per cent year-on-year growth and was the leader in the premium smartphone market (Rs 30,000 and above) with a 44 per cent share. . The strong sales of the iPhone 12 and iPhone 11 are believed to be the main reason why Apple performed so well in India in the last quarter. Counterpoint said, “Apple has become the top 5G smartphone brand in the premium segment for the first time. “
These plans of Apple are helping in the growth
Significantly, for the last few years, India is becoming important for Apple. Apple continues to position itself in the market as an aspiring brand and not just another smartphone maker. Apple’s market is different, its market capture strategy is also slightly different from other brands. This approach is helping Apple not only to gain market share, but also to gain user trust in the world’s second largest smartphone market. Even though Apple keeps the price of its smartphones high in India, the cashback offers and EMI schemes make the iPhone more attractive to the consumers.
Apple recorded this much revenue
On Thursday, Apple reported a record revenue of $83.4 billion in the September quarter, up 29 percent year-on-year. However, Apple’s revenue fell short of Wall Street’s expectations in its fiscal fourth quarter, as Cook blamed supply shortages on iPhones, iPads and Macs.
However, the company disclosed that it experienced $6 billion in supply constraints during the quarter. iPhone sales grew 47 percent year-on-year, while Apple’s services grew 26 percent year-on-year.
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