Apple doubled its business footprint in India during fiscal 2021; CEO Tim Cook
By Sanjay Maurya
News Highlights
- Apple claims that its business in India has increased in the fiscal year 2021.
- Apple was the fastest-growing brand in Q3 2021, according to Counterpoint Research.
- Apple’s success was fueled by the iPhone 12’s exceptional performance (31% market share), as well as the iPhone 11’s (28 percent market share).
Apple announced that its business in India has increased in the fiscal year 2021. “We established quarterly records in every geographic area with robust double-digit growth across the board,” Apple CEO Tim Cook said in a statement announcing the September quarter profits, adding that developing markets will account for about a third of Apple’s revenue in fiscal 2021. According to him, Apple’s business in India and Vietnam has doubled.
Apple
- Industry – Consumer Electronics
- Company size -10,001+ employees
- Headquarters – California
- Type – Public Company
- Founded – 1976
- Specialties – World-Class Operations, Innovative Product Development, Retail, and Telephone Support
Apple was the fastest-growing brand in Q3 2021, according to Counterpoint Research, with a 212 percent year-over-year increase and a 44 percent share of the premium smartphone market (> INR 30,000). Apple also maintained its 74 percent market share in the ultra-premium class (> INR 45,000 or $650), according to Counterpoint.
Apple’s success in the quarter was fueled by the iPhone 12’s exceptional performance (31% market share), as well as the iPhone 11’s (28 percent market share). Furthermore, Apple iPhone shipments increased by 150 percent quarter over quarter and by 28 percent year over year. The iPad, as well as the iPhone, had a role in the company’s success.
Apple iPad shipments increased by 109 percent QoQ and 47 percent year over year, owing to sustained work, learning, and relaxation habits at home, as well as customer demand for large displays. Apple’s market success was largely attributed to the Apple iPad Air 2020 and Apple iPad Pro 2021.
iPhones are expected to have a 3.5 percent market share for the year, with iPhone shipments likely exceeding 5 million. Apple iPads, on the other hand, is expected to capture 22% of the market. In India, Apple has had a record-breaking quarter.
The firm had a fantastic January-March quarter, which was followed by double-digit sales growth in India in the quarter that ended on June 26. In the earlier-than-usual Christmas season sales, Apple maintained its strong momentum in India, capitalizing on its aspirational appeal among customers.
Must Read:-
- Top 10 pharma companies in the world
- Top 10 company of India 2021
- Top 10 logistic Companies in India 2021
- Top 10 automobile companies in India 2021
- Top 10 fastest growing industries in the world 2021
- Top 10 most charitable person in the world 2021
- Top 10 logistic Companies in India – 2021
- Top 10 Company in the Corporate World
- Top 5 Most Fuel Efficient Car In India
- Start Small and go Big: Low-Investment Business Ideas 2021
- Top 10 Electrical Company in India 2021
