Apple’s India Business ‘Roughly Doubled’, Says CEO Tim Cook Amid Strong Dec Quarter Results
The company, also aiming for retail stores in the future, announced its strongest ever quarter and the sales jumped 21% to $111.4 billion in the period ended Dec 26.
Apple Result: In the times of pandemic, Apple India is going strong as the company has roughly doubled its India business in the December quarter this year, according to the company’s CEO Tim Cook. The iPhone manufacterer shared the update while while answering an analyst’s question during an earnings call on Thursday, as per the business daily Mint. The report quoted the CEO saying that in certain regsions the market share is quite low including India. However, he noted that the share improved from the year ago quarter, and the business roughly doubled, whicle expressing happiness over the trajectory. “Last quarter was the first full quarter of the online store and that has gotten a great reaction to it and helped us achieve the results that we got to last quarter. We’re also going in there with retail stores in the future, and we look to that to be another great initiative," Cook added. Also Read: Budget 2021 Expectations: How Integration Of Multi-Modal Transportation Can Promote Logistics Industry?
What are the numbers?
CEO Tim Cook’s update on India business came soon after the company announced its strongest ever quarter. Sales jumped 21% to $111.4 billion in the period ended Dec. 26, the company said on Wednesday in a statement. The report quoted various analysts who estimated Apple’s India market share grew from 2% in December 2019 to 4% in the quarter ended December 2020.
Apart from iPhone, Apple reported iPad sales of $8.44 billion, topping projections of $7.58 billion. The company launched a redesigned iPad Air and a faster entry-level model during the quarter. Mac sales were $8.68 billion, missing estimates of $8.86 billion. The numbers are better than expected even as Apple launching a new MacBook Pro, Mac mini and MacBook Air during the quarter.
Apple saw significant growth in all major geographies, including in Greater China where sales jumped to $21.3 billion from $13.6 billion a year ago. The company reported $46.3 billion in revenue in the Americas region, up about $5 billion from the year-ago period.
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