Apple’s India business ‘roughly doubled’ in Dec 2020, offline store coming 'in future': Cook1 min read . Updated: 28 Jan 2021, 06:15 AM IST
- The announcement came right after Apple announced its strongest ever quarter, with $111.4 billion in revenue
Apple’s India business “roughly doubled" in the December quarter this year, said the company’s CEO Tim Cook, while answering an analyst’s question during an earnings call today. “There are certain markets where our (market) share is quite low, India is one of them. It did improve from the year ago quarter, our business roughly doubled, so we feel pretty good about the trajectory," Cook said. “Last quarter was the first full quarter of the online store and that has gotten a great reaction to it and helped us achieve the results that we got to last quarter. We’re also going in there with retail stores in the future, and we look to that to be another great initiative," he added.
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The announcement came right after Apple announced its strongest ever quarter, with $111.4 billion in revenue. The company’s profits rose by 29% year-on-year to $28.76 billion, driven by growth in all of its product segments. According to various analysts, Apple’s India market share grew from 2% in December 2019 to 4% in the quarter ended December 2020.
The technology giant’s iPhone revenues also rose this quarter, reaching $65 billion in revenue. This is a 17% year-on-year growth from last year. Apple said its revenues from all service offerings grew as well. Service offerings have become a point of focus for Apple recently, and includes Apple Music, Apple TV+, Apple Arcade, Apple Fitness+ and more. The company earned $15.7 billion from services in the quarter ended December 2020.
Apple ended 2020 with its most profitable quarter to date, generating $111.4 billion in quarterly sales in the quarter ended December 2020. The company’s profits rose by 29% to $28.76 billion in the quarter, driven by growth in all of its product segments. While iPhone revenues fell in the last quarter, the December quarter saw a year-on-year growth of over $65 billion, a 17% growth from the same quarter last year. Revenue from service offerings, which includes Apple Music, Apple TV+, Apple Arcade, Apple Fitness+ and more, grew to $15.7 billion in the December quarter this year, from $12.7 billion in the same quarter last year.