New products

Apple’s activity in India doubled in fiscal year 21; see good demand for new products: Cook

NEW DELHI : New Delhi: Apple Inc. has doubled its operations in India, chief executive Tim Cook said on Friday.

“In fiscal 2021, we achieved almost a third of our revenues in emerging markets and doubled our activities in India and Vietnam. We are optimistic for the future, especially as we see strong demand for our new products, ”Cook said on the iPhone maker’s September quarterly earnings conference call with investors.

Apple tracks the fiscal year from October to September.

The company does not separately disclose sales phone numbers in India. However, according to Counterpoint Research estimates, the company sold 3.2 million iPhones in India in 2020.

“The last quarter has been the best for Apple in India. The full impact of the holiday season will be reflected in the next quarter, and we believe the iPhone 12 is likely to dominate the portfolio, ”said Tarun Pathak, research director at Counterpoint Research.

According to Cybermedia Research (CMR), Apple’s shipments in the September quarter in India were up 150% from the previous three months. Shipments increased 28% from the previous year.

“Leveraging Apple’s ambitious consumer appeal, older generation iPhones, particularly the iPhone 12 and iPhone 11, contributed to Apple’s success in the quarter. Despite the current momentum on the supply side, Apple is on track to post its best performance in India, ending the year with a potential market share of 3.5%, ”said Prabhu Ram, group manager of industrial intelligence at CMR.

Despite the strong numbers, the iPhone maker said supply constraints affected its ability to meet demand in the September quarter, an issue Apple expects it to have. worsens during the current trimester.

Cook and CFO Luca Maestri explained that these problems are due to the pandemic and the global chip shortage affecting electronics companies around the world. Cook believes that even if the covid issues started to ease, the chip shortage would worsen in the December quarter.

The pandemic might have helped Apple in India, however.

“Apple had the strongest lineup in India over the past year, which has helped the growth. Apart from that, the trends induced by the pandemic have also favored the growth of iPad, Mac, Airpod and services in India, ”said Ram of CMR. “Strong product demand along with a dedicated channel strategy has helped Apple grow in India. Apple had a very successful quarter in terms of iPhone, with shipments breaking a record 2 million units for the first time in a single quarter. The iPhone 11 and 12 contributed nearly 62%, “he added.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *