According to Cybermedia Research, Apple’s shipments registered a 150% quarter-over-quarter growth in India during the quarter ended September 2021, which is a 28% year-on-year increase
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NEW DELHI :
New Delhi: Apple Inc. has doubled its India business, chief executive Tim Cook said early Friday.
“During fiscal 2021, we earned nearly one-third of our revenue from emerging markets and doubled our business in India and Vietnam. We are optimistic about the future, especially as we see strong demand for our new products," Cook said at the iPhone maker’s September quarter earnings call with investors.
Apple follows the October to September financial year.
The company does not separately disclose India phone sale numbers. However, according to Counterpoint Research’s estimates, the company sold 3.2 million iPhones in India in 2020.
“The recent quarter was the best for Apple in India ever. The full impact of the festive season will be reflected in the next quarter, and we believe that iPhone 12 is likely to lead within the portfolio," said Tarun Pathak, research director at Counterpoint Research.
According to Cybermedia Research (CMR), Apple’s September quarter shipments in India grew 150% from the preceding three months. Shipments rose 28% from a year earlier.
“Leveraging on Apple’s aspirational appeal among consumers, the older-generation iPhones, especially the iPhone 12 and the iPhone 11, contributed to Apple’s success in the quarter. Despite the current supply-side dynamics, Apple is on track to post its best performance in India, ending the year with a potential 3.5% market share," said Prabhu Ram, head of the industry intelligence group at CMR.
Despite the strong numbers, the iPhone maker said supply constraints had affected its ability to meet demand in the September quarter, a problem Apple expects will aggravate in the current quarter.
Cook and chief financial officer Luca Maestri explained that these issues occurred due to the pandemic and the global chip shortage affecting electronics firms worldwide. Cook believes that while covid-related issues have started to ease, the chip shortage would worsen in the December quarter.
The pandemic might have helped Apple in India, though.
“Apple had the strongest lineup in India in the past year that contributed to the growth. Apart from this, the pandemic-induced trends worked in favour of iPad, Mac, Airpod, and services growth as well in India," said CMR’s Ram. “The strong product demand along with a dedicated channel strategy helped Apple to grow in India. Apple had a very successful quarter in terms of iPhones, with shipments crossing a record 2 million units for the first time in a single quarter. iPhone 11 and 12 contributed almost 62% of that," he added.
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