New Delhi: Apple beat expectations with its June quarterly earnings on Thursday. Almost all industries feeling the impact of the global economic downturn, Apple’s sales for the months of April, May and June painted a brighter picture.
Especially for India, where Apple “almost doubled” revenue in the previous quarter. Apple said it saw a lot of enthusiasm for the iPhone, as well as other products. In other words, Indians are buying iPhones more than ever.
“We also posted June quarterly sales records in both developed and emerging markets. With very strong double-digit growth in Brazil, Indonesia and Vietnam and a near doubling of sales in India,” said Tim Cook, Apple’s CEO during the company. quarterly earnings call.
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Cook did not share specific numbers, but mentioned “great enthusiasm for our products and services, resulting in an all-time record for our installed base of active devices.
” Apple no longer shares unit sales of its products, so it’s hard to estimate how many iPhone units the company managed to sell during the previous quarter in India. However, the cumulative earnings for the third quarter of fiscal 2022 are as follows:
— iPhone earned $40.67 billion in the third quarter, up 3 percent year-over-year
— Mac earned a total of $7.38 billion, down 10 percent year over year
— iPad sales down 1.9 percent year-over-year, Apple earns $7.22 billion in Q3
— Wearables, including the Apple Watch, generated $8.08 billion in revenue, down 7.8 percent year over year
— Services, including Apple Music and iCloud, grew 12 percent year over year with 3Q revenue of $19.60 billion.
Apple’s earnings in India
Apple iPhone sales in India grew mainly due to two factors. First, Apple has taken a bullish approach to manufacturing high-end iPhone models in India in recent years.
While this hasn’t exactly translated into lower prices, it has managed to convince more buyers to buy the “Made in India” iPhone.
The second factor is aggressive discounts from sellers. Apple Authorized Retailer stores compete for the best discount deal on iPhone and other Apple products. They make the products more attractive in terms of value.
Apple’s iPhone SE with 5G also helped the company gain some revenue, but the iPhone 12 and iPhone 13 accounted for the maximum sales, according to CMR India.
