American giant Apple has reported strong quarterly results ahead of the iPhone X launch, as iPhone sales stand at 46.7 million unit, up from 45.5 million in the year-ago quarter. The company, whicvh posted its quarterly revenue of $52.6 billion, reveals an increase of 12 per cent year-over-year with international sales accounting for 62 per cent of the revenue. Quite outstanding was its India revenue which has doubled, though the exact number remains unknown.
CEO Tim Cook, during his opening remarks during the earnings call, said, “Revenue from emerging markets outside of greater China was up 40 per cent, with great momentum in India, where revenue doubled year over year.” India also witnessed “double digit” growth in iPhone sales as the iPhone SE manufacturing gained momentum. CFO Luca Maestri expressed his pleasure to see double digit iPhone growth in many emerging markets including mainland China, the Middle East, Central and Eastern Europe, India, and Mexico. “It was great to see iPad unit and revenue growth in all of our geographic segments and particularly strong results in emerging markets, including greater China, where iPad units sales were up 25 per cent year-over-year and India, which grew 39 per cent,” he said.
Cook said Apple is making good progress in India and “gaining understanding of the market”. He however, admitted that the company has a “long way to go” in the country. Cook revealed that the majority of the iPhone SE units sold in the country last quarter were Made in India. “As you know, as I think we talked about before, we started manufacturing the iPhone SE there six, nine months ago so. And the majority of the iPhone Ses that we sold in the domestic market last quarter were manufactured there. And so we also have that going and are hoping that that winds up saving some amount of money over time and avoiding some of the compounding of taxes et cetera.”
