Apple Registers 40% Increase in India Revenue, Hits $1 Billion Mark in FY 2015
We’re sure Apple wouldn’t have thought that the Indian market, which was at the bottom of their priority list, could help increase the revenue of the company to such an extent. The Cupertino-based tech giant has recorded a whopping revenue of $1 billion in India in the fiscal year 2015. The present earning of the firm is 40 percent more than Rs. 4,500 crore of returns registered last year, and is three folds of the what was reported in 2011-12.
Apple hasn’t filed its final revenue details until now, but according to a source at Times of India, the firm can log the same with Ministry of Corporate Affairs (MCA) anytime soon. Experts unfolded that the latest devices, iPhone 6 and iPhone 6 Plus, have contributed largely to the sales income. With access to unit sales figures over the year and experts remark, Apple’s India revenue is computable. As per an analysis by Cybermedia Research, Apple has sold 1.3 million phones in the fiscal year 2015. Considering the high price of the latest models, it is evident that the company has made a total revenue of over $1 billion in the India market.
At a time when Apple is witnessing increased sales, Samsung is steadily losing its hold over different markets. The Korean electronics giant released a performance report of the last three months, which shows 30.5 percent dip in the profits. This was Samsung’s sixth consecutive year-over-year fall in quarterly profit, where it registered 60% fall in profits over the last quarter.
India is emerging as one of the fastest growing tech markets and a battleground for many top smartphone leaders. Such examples will only encourage tech enterprises to conquer our nation’s market and establish themselves on the Indian soil. Meanwhile, many Chinese firms spread over US and UK are now citing the Indian sub-continent as profitable marketplace for investment, and plan to enter the country soon.