India revenues doubled in Sept qtr: Apple

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NEW YORK:  Tech giant Apple saw its revenues from India doubling year-on-year in the September quarter on strong sales of iPhones and iPads, a top company official on Friday said.
“We were especially happy to return to growth in greater China, where revenue was up 12% from a year ago and with our momentum in India, where revenue doubled year-over- year,” Apple Chief Financial Officer Luca Maestri said on an investor call.
Strong growth across markets like Mexico, the Middle East and Turkey fueled the overall growth of over 20% from emerging markets, he added.
The Cupertino-based company posted 12% increase in the July-September quarter revenue to $52.6 billion, beating market estimates.
Talking about the India market, Apple Chief Executive Officer Tim Cook said growing a market like India is a result of building stores, channels, markets and 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 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,” he added.
Apple has been sharpening its focus on the Indian market, which is among the world’s biggest smartphone markets dominated by its rival, Samsung.
While Apple has a small share here given its premium play, it has been expanding presence in the country.
Apple also started local production of its iPhone SE in May this year through a partnership with Taiwanese contract manufacturer Wistron.

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