Apple’s India Revenue Rebounds, Sees Double Digit Growth During June Quarter

Apple’s June quarter revenue grew double digits in India as international sales accounted for 59 percent of the last quarter’s total revenue for the Cupertino, California-based company. It wasn’t just India, whereas Apple saw marked improvement year-over-year improvement in revenues. Emerging markets, including BRIC countries, went from a 25 percent decline in first half of the company’s fiscal year to 3 percent growth in the June quarter, Apple CFO Luca Maestri said during the Q3 earning call. The company also set third quarter revenue records in South-East Asian markets like Philippines, Thailand, and Vietnam.

Apple didn’t reveal specifics of what worked for the company in India during the last quarter, but it could be a range of things, including iPhone exports, which the company reportedly started during the last quarter.

Although Apple had not talked specifically about India in its Q2 earning in April, it was pretty clear that Apple’s revenue was down across most of the emerging markets. Tim Cook at the time had said that they have made “some [pricing] adjustments in India, and we’ve seen preliminarily some better results there.” It seems these adjustments have paid off for the company.

“India bounced back. During the quarter, we returned to growth there. We’re very happy with that,” Cook said during the June quarter earnings call, talking about the emerging markets.

Apple’s greater China revenue during the last quarter also brought positive news for the company, dipping only slightly, thanks to the non-iPhone sales.

“We actually grew in mainland China,” Cook told Reuters. “Non-iPhone revenue grew 17 percent. We grew in every category outside of iPhone.”

Overall, Apple posted a quarterly revenue of $53.8 billion, helped by all-time record Services revenue for the company.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Cook.

https://gadgets.ndtv.com/mobiles/news/apple-india-revenue-growth-june-quarter-q3-2019-luca-maestri-tim-cook-2078002

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