Home >Companies >Company Results >Apple sees record quarter in India, even as iPhone sales fall worldwide
American technology giant, Apple, said it set a new record for itself in India for the quarter ended September 2020, said Tim Cook, chief executive officer of Apple (Photo: AP)
American technology giant, Apple, said it set a new record for itself in India for the quarter ended September 2020, said Tim Cook, chief executive officer of Apple (Photo: AP)

Apple sees record quarter in India, even as iPhone sales fall worldwide

  • Apple didn’t provide guidance for the next quarter, something it has been doing this year, since the pandemic has made business conditions unpredictable
  • Apple led the premium smartphone market in India in this quarter, ahead of popular brands like OnePlus and Samsung

American technology giant, Apple, today said it set a new record for itself in India for the quarter ended September 2020, said Tim Cook, chief executive officer of Apple.

While the company didn’t disclose the exact revenues for the country, it’s revenues from the Asia Pacific region (excluding China) grew by 10% year-over-year. Cook said that at least part of the success is due to the company’s new online retail store in the country.

Further, the growth in India was also part of a record September quarter for the company worldwide. Apple reported $64.7 billion in revenue and all time records for its Mac and services business. Cook said that the need for devices that can help for education and work from home has helped the Mac business. The company made over $9 billion in sales for Macs, while the iPad business grew by 46 percent year-on-year, making over $6 billion in sales.

That said, while the company saw growth in Mac, iPad, wearables and smart home, and services businesses, it’s primary product — the iPhone — showed slowdown. Sales fell by about 20% year-over-year, thanks to supply chain issues, lockdowns and a general slowdown in iPhone sales seen over the past year or two.

It’s worth noting though that the iPhone 12 wasn’t included in today’s earnings, as the company had to launch the device late this year. The new iPhones start selling from October 30 in most places. Apple said it expects strong demand for the new iPhones in coming quarters. According to Cook, the company is still supply constrained due to the pandemic and hasn’t taken orders for the iPhone 12 Mini and iPhone 12 Pro Max yet.

The company didn’t provide guidance for the next quarter, something it has been doing this year, since the pandemic has made business conditions unpredictable.

While Apple still holds about 2% market share in India, according to analysts, many have noted its increasing momentum here over the past two quarters. According to analysts,Apple led the premium smartphone market in India in this quarter, ahead of popular brands like OnePlus and Samsung.

Experts say Apple’s growth in India is mostly driven by the iPhone SE (2020) and iPhone 11, that are more affordable compared to its other devices. The company has also gained from supply chain issues faced by Chinese brands in India, due to the pandemic and restrictions placed by India on Chinese shipments after the border tussle between the two countries.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
My Reads Redeem a Gift Card Logout