Apple’s highest revenue in India in Sep 2019

In the June quarter, Apple had said the Indian market had bounced back as the company logged strong double-digit growth in the country.

Tech giant Apple has said its revenues in India ‘established new records’ in the fourth quarter, including achieving its highest revenue from Mac sales in the country. The iPhone maker’s global revenue grew 2 % YoY to $ 64 billion for the quarter ended 30 September 2019. While the company does not disclose country-specific numbers, it said international sales accounted for 60 % of quarter revenue.

“At a country level, we established new fourth quarter records in many major developed and emerging markets, including the US, Canada, Germany, France, Korea, Singapore, Brazil, India, Thailand, Malaysia and Vietnam,” Apple Chief Financial Officer Luca Maestri said in an investor call.

He added that the company “generated an all-time revenue record for Mac in the US and in India and more than half of the customers purchasing Macs during the quarter were new to Mac and the active installed base of Macs (Apple’s computers) has also reached a new all-time high”.

According to regulatory documents filed with the ROC, Apple India saw over 70 % fall in its net profit in India to Rs 262.27 Cr, while revenues fell 19% in the 2018-19 over 2017-18.

Apple, which competes with Samsung and OnePlus in the premium smartphone marke and had made an entry into the top 10 smartphone brands tally in the July-September 2019 quarter due to price cuts on XR model along with good channel demand for of its newly launched iPhone 11.

OnePlus continued to hold onto the number one spot in the premium category in the said quarter.

 

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