Apple Sets New March Quarter Record for India

“We set a new March quarter record for India, where revenue grew by strong double digits,” Apple CEO Tim Cook said in his opening remarks as part of the earnings call. Chief Financial Officer Luca Maestri quantified the “strong double-digit” growth for India — over 20 percent.

Growth in India revenue is due to Apple’s aggressive marketing focus with discounts and cashback offers, especially on older iPhone models and products like the iPhone SE. More recently, the iPhone 7 and iPhone 7 Plus have been available at reduced prices as well, reports Gadgets 360.

iPhone

“We continued to strengthen our local presence across the entire ecosystem, and we’re very optimistic about our future in this remarkable country with its very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure,” Cook added.

Starting online stores is among Apple’s plans for India, while phased manufacturing is something that Apple may be already discussing with the government.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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