A record was set for iPhone sales in India, and Apple Inc. revenue growth in China was an unexpectedly high 8%; both achievements stood out in an otherwise dismal quarterly report from the most valuable corporation in the world.
After Apple reported its third consecutive quarter of dropping sales and forecast a similar result in the current quarter, affected by an industry-wide downturn that has weakened demand for phones, desktops, and tablets, those two milestones stood out.
The creator of the iPad and Macbooks announced better-than-expected growth in China sales of 7.9%, which includes Hong Kong and Taiwan, to $15.7 billion. Executives did not provide specific figures, but iPhone sales in India increased by double digits to a record high.
Apple Inc. reported its third consecutive quarter of dropping revenue and forecasted a similar result in the current quarter, hampered by an industrywide slowdown that has slashed demand for phones, desktops, and tablets.
China, in particular, has been a big drag on the global smartphone market since last year, and has failed to rebound as expected due to post-Covid economic instability. Chief Executive Officer Tim Cook said that users in the world’s largest mobile market were abandoning Android solutions from its main competitors, including Xiaomi Corp. and Huawei Technologies Co.
Switchers were a very key part of our Apple smartphone results for the quarter, and we did set a record, Cook said at a post-earnings briefing.
China’s smartphone sector is faltering with the country’s stuttering economy. Shipments have declined in every quarter since the beginning of 2022, as customers tighten their belts to deal with a post-Covid slump. The market may recover in the fourth quarter, when Apple and its competitors normally introduce their latest smartphones, but growth may be slower than projected, according to IDC
While unsurprising, the company’s achievement in India validates its newfound focus on a nation where the iPhone has long been out of reach for many consumers. Apple now sees the rapidly expanding country as both a major retail potential and, in the long run, a vital production location for its gadgets.
According to Bloomberg News, Apple’s revenue in the region increased by about 50% year on year to nearly $6 billion in the fiscal year ending March. The corporation, which has only recently built its first outlets in the nation, intends to expand its network in India as part of an Asia-wide push.
Given Below are Some Adaptive Features of Apple’s |
Follow and Connect with us on
Facebook | Instagram | Linkedin | Dribbble | Twitter | Tumblr | Pinterest
