Apple doubled its revenues from India says CEO Tim Cook

first_imgApple Inc. CEO Tim Cook speaks at the Recode Conference in Rancho Palos VerdesReutersIn a call with investors and analysts, company CEO Tim Cook, said “Revenue from emerging markets outside of greater China was up 40 percent, with great momentum in India, where revenue doubled year over year.”The company further said that not just iPhone sales that have increased, the company is also witnessing rising demand for other products such as iPads and Macs, the Business Standard reported.However, the company has not given specific numbers for the sales in India. Apple said it saw double-digit growth in sales driven by enterprise and education customers in India.With 110 million smartphones shipping in the country every year, India currently has the second largest smartphone market in the world. It is estimated that Apple just has 3 percent market share in India’s smartphone market, BS reported.Many experts believe that Apple’s double-digit growth is not enough considering the small base of its operations in the country.Speaking on future roadmaps and how Apple’s strategy plans to be even more successful in India, Cook said, “The company is building stores. It’s building channels. It’s building markets. It’s building the developer ecosystem. It’s having the right product lineup for the market. And I feel like we’re making good progress there and are gaining an understanding of the market, but we still have a long way to go, which I sort of see as an opportunity instead of a problem.”In February this year, the government of Karnataka had announced Apple’s proposal to start manufacturing operations in Bengaluru. Following this, the company has started initial production of its iPhone SE model in Bengaluru, the Mint reported.Eddy Cue, Apple’s senior vice-president, said last month, “At the Apple level, India is an incredible opportunity… because what we’re seeing is huge advancements in digitisation, bypassing older technologies to newer technologies and we think that we have a really great product that can help move things even faster. And that’s the reason I’m here, that’s the reason (CEO) Tim (Cook) came here before. That’s the reason why Tim will be back and I will be back. We view this as a very long-term opportunity but with very short-term gains that we can have here.”last_img