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Apple’s All Time Record Revenue Numbers Have A Very Distinct India Flavour

Apple’s All Time Record Revenue Numbers Have A Very Distinct India Flavour

Tim Cook also confirmed Apple’s plans for physical retail stores in India. Apple has doubled its market share in the Indian smartphone space, during the winter quarter.

Apple has released the latest quarterly numbers and they are, well, record breaking. The company posted an all-time record revenue of $111.4 billion, which is a 21% increase compared with the same quarter last year. in the Q1 2021 results for the quarter which ended in December, Apple says that international sales accounted for as high as 64% of the quarter’s revenue. It was a strong showing for Apple’s entire product line too. The iPhone sales, where no doubt a lot of the interest was in the new iPhone 12 series, accounted for almost $66 billion in revenue, while the iPads clocked more than $8.4 billion and the Mac computing devices garnered more than $8.6 billion in revenue. All these numbers are significantly higher than previous year’s comparative quarter.

India continues to play an even more important role for Apple, and the strong showing in India in the winter quarter has no doubt helped boost these revenue numbers further. During the Apple Financial Results earning call, CEO Tim Cook mentioned India and the importance of the market for Apple. While speaking about Apple’s push to register an even higher market share in India, he said, “There are several markets I alluded to before, India is one of those, where our share is quite low, it did improve from the year ago quarter, our business roughly doubled over that period of time, so we feel very good about the trajectory. We are doing a number of things in the area, we put the online store there for example, and last quarter was the full first quarter of the online store and that has gotten a great reaction to it and has helped us achieve the results that we got to last quarter.”

Tim Cook also confirmed Apple’s plans for physical retail stores in India. “We are also going in there with retail stores in the future and so we look to that to be another great initiative, and we continue to develop the channel as well,” he said. Cook made it clear that India offers a great opportunity for Apple.

We had reported earlier this week that Apple had doubled its market share in the Indian smartphone space, during the winter quarter. It turns out that the Apple iPhone 12, Apple iPhone 11 and the iPhone XR have been the most popular phones in India during the winter months, which means Apple has doubled its bite on the Indian smartphone market to 4%. Apple also clocked at 60% year on year growth in India while the festive quarter, which saw the Apple India online store go Live just ahead of the Dussehra and Diwali festivals, registered 100% year on year growth.

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None of this should come as a surprise. Apple spent most of 2020 in India pushing for localization, participating in the Make In India initiative as well as the Production Linked Incentive (PLI) offer and the launch of the Apple India online store with further customizations and localizations to help users with pre-purchase as well as post purchase support and personalization options with various products, including the Apple AirPods wireless earbuds.

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