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Tag: apple revenue

  • How a change in technique helped Apple clock document iPhone gross sales in India

    Apple Inc. had its strongest quarter for iPhone gross sales in India but, an indication the Cupertino, California-based firm is lastly making progress on the earth’s fastest-growing smartphone market. 

    Sales elevated to 2.3 million items within the fourth quarter, up 34% from a 12 months earlier, in line with numbers from the market analysis agency Counterpoint. China’s Xiaomi Corp. and South Korea’s Samsung Electronics Co. bought 9.3 million and seven.2 million smartphones for the quarter respectively, main by way of items. 

    Apple seems to have pulled in additional income than any of its rivals, nonetheless, due to the iPhone’s excessive price ticket, in line with Counterpoint’s calculations. The U.S. firm took in an estimated $2.09 billion for the quarter, edging apart Samsung with income of about $2 billion.

    “It’s a turning level for Apple in India,” said Neil Shah, the Mumbai-based partner and research head at Counterpoint Technology Market Research. “Indians were willing to lavish money on premium phones during the pandemic because everyone’s lives revolved around their devices and there was nothing else to spend on.” 

    While Apple has change into probably the most helpful firm on the earth on the recognition of its iPhone, it has struggled within the 1.3 billion-person India market. Pricey iPhones are far past the attain of many native customers, a scenario aggravated by stiff import tariffs Apple needed to pay on gadgets made exterior the nation.

    In 2018, the corporate stumbled via a number of top-level government departures within the nation, sliding gross sales and irate retail companions who protested its on-line low cost practices. Apple bought 1.8 million iPhones for all the 12 months, fewer than it bought in the latest quarter. 

    Since then nonetheless, the know-how large has made an about-face in technique. It’s opened its personal India on-line retailer, streamlined reductions and began native manufacturing of iPhones. It’s planning to open company-owned stores in a number of cities within the coming quarters. 

    During the current October to December interval, India’s pageant shopping for and gifting season, the cellphone maker priced its primary iPhone 12 mannequin at lower than 50,000 rupees ($668), providing cashback incentives and straightforward fee plans. 

    Apple continues to be a troublesome promote in a rustic the place per-capita earnings was underneath $2,000 in 2020, in line with World Bank information. For the latest quarter, the common iPhone promoting value within the nation was $908, whereas Samsung’s was $278 and Xiaomi’s was $172, in line with Counterpoint.

    While Apple’s market share has climbed, it stays within the single digits at simply over 5% for the quarter. Indians bought 44 million smartphones within the interval. 

    It has challenges past value available in the market. Apple manufacturing companions, Foxconn Technology Group and Wistron Corp., have confronted blowback in India due to their remedy of employees. The U.S. firm took the weird step of inserting a Foxconn manufacturing facility close to the southern Indian metropolis of Chennai on probation after protests about meals security and lodging requirements.

    In addition, the nation’s antitrust regulator, the Competition Commission of India, has begun a probe into app retailer charges.

    This story has been printed from a wire company feed with out modifications to the textual content.

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  • Apple doubles enterprise in India, really feel excellent in regards to the trajectory: Tim Cook

    Image Source : AP Apple doubles enterprise in India, nonetheless fairly low relative to dimension of alternative: Tim Cook
    Apple CEO Tim Cook has stated the corporate’s share in India “is quite low relative to the size of the opportunity” and organising retail shops sooner or later within the nation might be an amazing initiative.

    Apple launched the Apple Store on-line in India on September 23, providing Apple’s full vary of merchandise and help on to prospects throughout the nation for the primary time.

    “If you take India as an example, we doubled our business last quarter compared to the year ago quarter. But our absolute level of business there is still quite low relative to the size of the opportunity. And you can kind of take that and go around the world and find other markets that are like that as well,” Cook stated on Wednesday within the firm’s Q1 2021 outcomes earnings name.

    On a query on Apple’s efforts within the Indian market, the place it has a low share, Cook stated, “There are several markets, as I alluded to before. India is one of those, where our share is quite low. It did improve from the year-ago quarter. Our business roughly doubled over that period of time. And so we feel very good about the trajectory.”

    He stated Apple is doing various issues within the space. “We put the net retailer there, for instance, and final quarter was the primary full quarter of the net retailer. And that has gotten an amazing response to it and has helped us obtain the outcomes that we bought to final quarter.”

    “We’re also going in there with retail stores in the future. And so we look for that to be another great initiative and we continue to develop the channel as well. And so there’s lots of things, not only in India but in several of the other markets that you might name where our share is lower than we would like,” he stated.

    Cook added that even within the developed markets, everyone would not have an iPhone, “not even close. And so, we really don’t have a significant share in any market. So, there’s headroom left even in those developed markets where you might hear that.”

    Apple introduced monetary outcomes for its fiscal 2021 first quarter ended December 26, 2020. The firm posted all-time document income of USD 111.4 billion, up 21 per cent yr over yr. International gross sales accounted for 64 per cent of the quarter’s income.

    Cook stated the corporate hit a “new high watermark” for its put in base of energetic gadgets, with development accelerating because it handed 1.65 billion gadgets worldwide throughout the December quarter.

    iPhone grew by 17 per cent year-over-year, pushed by sturdy demand for the iPhone 12 household. The firm’s energetic put in base of iPhones is now over 1 billion.

    “The customer response to the new iPhone 12 models’ unprecedented innovation from world-class cameras to the great and growing potential of 5G has been enthusiastic, even in light of the ongoing COVID-19 impact at retail locations,” he stated.

    iPad and Mac grew by 41 per cent and 21 per cent, respectively, “reflecting the continuing role these devices have played in our users’ lives during the COVID-19 pandemic,” he stated.
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  • Business doubled in India, be ok with trajectory: Apple CEO Tim Cook

    Apple’s first $100 billion quarter got here with a big contribution from India the place it bought over 1,000,000 units for the primary time fuelled by the recognition of iPhone 11 and iPhone XR. The firm posted all-time report income of $111.4 billion, up 21 per cent yr over yr with the brand new iPhone 12 and iPads contributing considerably to the numbers.
    Speaking to analysts after the outcomes, Apple CEO Tim Cook spoke concerning the market enlargement: “This is particularly the case in some of the emerging markets where we’re proud of how we’ve done… If you take India for example, we doubled our business last quarter compared to a year ago but our absolute level of business there is still quite low relative to the size of the opportunity.”
    Speaking notably about India, Cook later stated whereas in India Apple’s market share is ‘quite low’, “it did improve from the year ago quarter, our business roughly doubled over that period of time, so we feel very good about the trajectory.”
    The launch of Apple’s on-line retail retailer in India has opened up the Indian market considerably for Cupertino.
    He cited causes for this progress: “We are doing a number of things in the area, we put the online store there for example, and last quarter was the full first quarter of the online store and that has gotten a great reaction to it and has helped us achieve the results that we got to last quarter. We are also going in there with retail stores in the future and so we look to that to be another great initiative, and we continue to develop the channel as well.”

    This progress has been recorded by many analysis corporations, together with Cyber Media Research which not too long ago stated Apple’s share within the Indian smartphone market had doubled to 4% within the festive quarter, as per a report in information company IANS. This was a 60% bounce year-on-year for Apple in India.

    Interestingly, the launch of Apple’s on-line retail retailer in India has opened up the Indian market considerably for Cupertino, which is now capable of ship throughout India is underneath 72 hours, largely in areas which haven’t any offline retail of the model. The pandemic additionally appears to have helped the gross sales of iPads as an training system in lots of households.
    Globally, Cook stated the iPhone gross sales grew by 17% year-over-year, “driven by strong demand for the iPhone 12 family”. Now iPhones have an lively put in base of over 1 billion units. While the iPad grew 41% the Mac was up 21%, which Cook stated displays “the continuing role these devices have played in our users’ lives during the COVID-19 pandemic”.

  • Apple income tops $100 Billion for first time on iPhone gross sales

    Apple Inc. shares fell after a cautious outlook from executives overshadowed quarterly income that topped $100 billion for the primary time. Shares of the corporate declined virtually 3% in prolonged buying and selling.
    Apple additionally didn’t present a income forecast for the fourth quarter in a row. It beforehand cited uncertainty from the Covid-19 pandemic in selecting to not present projections.
    “It was an extremely strong quarter. What’s likely weighing on the stock at the moment is that they didn’t give guidance,” stated Shannon Cross of Cross Research.
    Sales jumped 21% to $111.4 billion within the interval ended Dec. 26, the corporate stated Wednesday in a press release. Analysts, on common, anticipated $103.1 billion, in accordance with knowledge compiled by Bloomberg. Profit was $1.68 a share, additionally topping Wall Street estimates.
    Expectations have been sky excessive for the corporate on ideas of a brand new iPhone “super cycle,” the place thousands and thousands of current customers improve growing older handsets. The firm additionally lately launched different new gadgets, together with an up to date Apple Watch, and demand elevated for iPads, Mac computer systems and companies from customers working and learning from house through the pandemic.
    Revenue was propelled by the iPhone 12, the primary iPhone line to incorporate 4 new fashions and 5G capabilities. Handset gross sales have been $65.6 billion, simply beating Wall Street estimates of $60.3 billion.
    “This strength in iPhone sales provides evidence for Apple bulls that another iPhone super cycle maybe in the cards,” Dan Morgan, a senior portfolio supervisor at Synovus Trust Company. The final tremendous cycle occurred with the iPhone 6 again in 2014 and launches since then have “felt more like ripples opposed to a wave,” he added.
    On a convention name with analysts, Apple executives stated they anticipate gross sales development from AirPods and different wearables to decelerate within the fiscal second quarter. They additionally warned that Services gross sales within the interval will face harder comparisons with a 12 months earlier.
    Beyond the iPhone, Apple reported iPad gross sales of $8.44 billion, topping projections of $7.58 billion. The firm launched a redesigned iPad Air and a sooner entry-level mannequin through the quarter. Mac gross sales have been $8.68 billion, lacking estimates of $8.86 billion. That comes regardless of Apple launching a brand new MacGuide Pro, Mac mini and MacGuide Air through the quarter.
    “They were probably supply constrained during the quarter. There are still significant delays for shipments for some models,” Cross stated.
    The inflow of recent {hardware} purchases additionally led to sturdy development of the companies section, which incorporates the App Store, iTunes, Apple Music, and iCloud. The firm reported $15.8 billion from companies within the quarter, topping estimates of $14.9 billion.

    Apple launched 4 main new merchandise within the quarter into its Wearables, Home, and Accessories section: the Apple Watch Series 6, Apple Watch SE, the HomePod mini speaker and AirPods Max headphones. Those gadgets gave Apple its strongest quarter up to now for that section with income of $12.97 billion. Analysts estimated $11.84 billion.
    Apple noticed important development in all main geographies, together with in Greater China the place gross sales jumped to $21.3 billion from $13.6 billion a 12 months in the past. The firm reported $46.3 billion in income within the Americas area, up about $5 billion from the year-ago interval.