New Delhi: Tech giant Apple has said its revenues in India ‘established new records’ in the fourth quarter, including achieving its highest revenue from ‘Mac’ sales in the country.
The iPhone maker’s global revenue grew two per cent year-on-year to USD 64 billion for the quarter ended September 28, 2019. While the company does not disclose country-specific numbers, it said international sales accounted for 60 per cent of the quarter revenue.
“At a country level, we established new fourth quarter records in many major developed and emerging markets, including the US, Canada, Germany, France, Korea, Singapore, Brazil, India, Thailand, Malaysia and Vietnam,” Apple CFO Luca Maestri said in an investor call.
He added that the company ‘generated an all-time revenue record for Mac in the US and in India’ and more than half of the customers purchasing Macs during the quarter were ‘new to the machine’.
In the June quarter, Apple had said the Indian market had ‘bounced back’ as the company logged strong double-digit growth in the country.
According to regulatory documents filed with the Registrar of Companies, Apple India saw over 70 per cent fall in its net profit in India to Rs 262.27 crore, while revenues fell 19 per cent in the 2018-19 over the last financial year. Now it seems that the company has seen a huge turnaround.
Apple, which competes with the likes of ‘Samsung’ and ‘OnePlus’ in the premium smartphone market, had made an entry into the top 10 brands tally in the July-September 2019 quarter due to price cuts on XR model along with good channel demand for of its newly launched iPhone 11, a report by ‘Counterpoint’ had recently said.
PTI
