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Friday, March 05, 2021

Business doubled in India, feel good about trajectory: Apple CEO Tim Cook

Apple posted all-time record revenue of $111.4 billion, up 21 per cent year over year with the new iPhone 12 and iPads contributing significantly to the numbers.

Written by Nandagopal Rajan |
Updated: January 28, 2021 11:16:29 am
Apple, Apple business in India, Tim Cook, Apple CEO Tim Cook, Apple revenue, Technology news, Indian expressGlobally, Tim Cook said the iPhone sales grew by 17% year-over-year, “driven by strong demand for the iPhone 12 family”. (File)

Apple’s first $100 billion quarter came with a significant contribution from India where it sold over a million devices for the first time fuelled by the popularity of iPhone 11 and iPhone XR. The company posted an all-time record revenue of $111.4 billion, up 21 per cent year over year with the new iPhone 12 and iPads contributing significantly to the numbers.

Speaking to analysts after the results, Apple CEO Tim Cook spoke about the market expansion: “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 particularly about India, Cook later said while 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.”

Apple revenue tops 0 Billion for first time on iPhone sales The launch of Apple’s online retail store in India has opened up the Indian market significantly for Cupertino.

He cited reasons for this growth: “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 growth has been recorded by many research firms, including Cyber Media Research which recently said Apple’s share in the Indian smartphone market had doubled to 4% in the festive quarter, as per a report in news agency IANS. This was a 60% jump year-on-year for Apple in India.

Interestingly, the launch of Apple’s online retail store has opened up the Indian market significantly for Cupertino, which is now able to deliver across the country in under 72 hours, mostly in locations which have no offline retail of the brand. The pandemic also seems to have helped the sales of iPads as an education device in many households.

Globally, Cook said the iPhone sales grew by 17% year-over-year, “driven by strong demand for the iPhone 12 family”. Now iPhones have an active installed base of over 1 billion devices. While the iPad grew 41% the Mac was up 21%, which Cook said reflects “the continuing role these devices have played in our users’ lives during the COVID-19 pandemic”.

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