In the September quarter, Apple Inc. declared record Indian revenue thanks to an uptick in sales of iPods, laptops, and smartphones.
Analysts claim that Apple is progressively increasing its market share in the laptop market, particularly in the commercial sector. The company’s rise in India was driven by iPads, MacBooks, and services, which is good news for Apple as it suggests that it is growing its footprint there.
Thanks to the increase in iPhone users last year, Apple began the year with its highest-ever installed user base in the nation, but it has since expanded the market for According to Tarun Pathak, research director at Counterpoint India, the company’s other goods. Given that the iPhone serves as the normal entry point for Apple users in India, Pathak noted that this trend has begun to spread to the company’s other product categories, including Macs, iPads, and services.
Overall, the most valuable business in the world outperformed experts’ forecasts for quarterly revenues and profits even as its big competitors, Meta, Alphabet, and Microsoft, let investors down.
Apple announced record quarterly revenue of $90.1 billion on Thursday. According to chief executive Tim Cook, India has seen extraordinarily strong double-digit growth, and the nation has set a new all-time sales record” for the business, according to chief financial officer Luca Maestri.
According to Cook, Apple’s India division also experienced record quarterly sales in the quarter ending in June. It is true that over the previous two years, Apple has consistently claimed to enjoy a good performance in India. This corporation controls the premium smartphone industry in India.
In India, Apple enjoyed a 44% market share for high-end smartphones (priced over 30,000), but that share declined to 37% in the first half of the year due to waning consumer demand.
Operating income of Apple India Pvt. Ltd. In the fiscal year that concluded on March 31, the rise was 46%, reaching 33,312.9 crores. Net profit, however, increased by 3% to Rs. 1,263 crores.
According to him, Apple’s iPhone sales volume in India for CY22 is projected to increase by 20%, and the company’s iPhone shipment volume is predicted to be no more than 6 million units.
According to Pathak of Counterpoint India, Apple’s market share in the premium segment would total to about 50% for CY22 as a result of the availability of inexpensive iPhones starting with the 2019 iPhone 11 and steep discounts on the 2021 iPhone 13 during the recent holiday season sales.