Apple Sets New Quarterly Record in India, Says CEO Tim Cook
Apple has set a new quarterly record in India for its September quarter, chief executive Tim Cook announced during an earnings call Thursday. The 59-year-old executive did not disclose exact revenues for the Indian market, although he did consider the launch of Apple’s online store in the country as part of the latest success. The new record comes amid the drop in iPhone sales worldwide by 20 percent. Cook also highlighted supply constraints affecting the iPhone, iPad, Apple Watch and Mac lines.
Tim cook said that there has been a “very good reception” to the launch of Apple’s online store in the country that was launched last month. The company brought in facilities that include direct customer support and exchange options to attract consumers. The online store also initially offered bank discounts and even organized a special Diwali offer to gain popularity in the market where Amazon and Flipkart largely dominate e-commerce operations.
Apple It did not provide specific figures to highlight its record success in India. However, its net sales in the Asia Pacific region, excluding China, experienced growth of more than 10 percent year after year.
According to a recent report According to market analyst firm Canalys, Apple posted double-digit growth in India in the third quarter of this year, with shipments of nearly 800,000 units.
“Apple is finally paying attention to India,” said Canalys research director Rushabh Doshi. “You have opened a direct online store, which gives you several new angles in your go-to-market strategy, such as using device swaps to provide purchase incentives or bundling AirPods with iPhones to make them more attractive. ”
Earlier this week, research firm Counterpoint Research stated in a report that Apple led the more than Rs. 30,000 market in India, thanks to the strong growth of the iPhone SE (2020) and iPhone 11. These two are the models that are helping Apple to earn significant revenue from the country, according to market experts.
That said, Apple’s latest record does not include the performance of the iPhone 12 series that just went on sale in India, along with various global markets.
The latest results show that iPhone sales fell globally due to the delay in the launch of its new models. However, Apple CFO Luca Maestri famous In the earnings call, demand for the iPhone remained “very strong” and customer demand for the existing product line “grew double digits” through mid-September.
Total Apple revenue grew to $ 64.7 billion (approximately Rs. 4.80,510 crore) in the September quarter, based on quarterly results. That brought a seven percent drop in its profit to $ 12.7 billion (roughly Rs. 94,319 crore).
During the earnings call, Cook also discussed supply constraints affecting the iPhone, iPad, Apple and Mac product lines. He said Apple was working “very, very hard to remedy” current problems.
“If you look at the iPhone, today we are limited,” he said while answering a question about the supply chain. “That is not a surprise at the front of the ramp, and it is difficult to predict how long we will be limited.”
Apple has seen supply problems with the iPad and Mac lines for quite some time this year, reportedly due to high demand from people embracing remote learning and work from home culture due to the pandemic. It also upgraded its existing models with the new iPad and Mac machines that added additional weight to the supply chain, which was also initially affected due to COVID-19.