Apple clocked better than anticipated profits of $11.5 Billion and income of $53.3 Billion for the April–June quarter. This is an increment of 32%. This comes in spite of its sales in India going south. The sale in India adds up just 5.9% of the incomes.
iPhone 6 is the company’s best-selling device in India. This model is 4 Years old and not obtainable for purchase in most nations beyond the subcontinent. The device has a price tag of Rs 30,000 and, hence has very less value to the firm.
However, even though the global sales of iPhone jumped only 1% in the quarter, incomes from sales increased by 20%. This means that Apple is trading more premium handsets all over the world. The most popular and latest model, iPhone X, has a price tag of $1,000 and more in the U.S. (almost Rs 89,000 to Rs 1 Lakh in India). The best markets for Apple are Europe, the Americas, Japan, and Greater China.
Discontented with the discounts that the merchants are providing, Apple lately reined in on its distribution system, eliminating out a handful of retailers.
Services are the 2nd best source of revenue for the firm after iPhone sales. This is majorly dominated by the income it gets on Apple store when you spend on a game or buy an app. Apple gets a piece of every buyout. Not more than 10% smartphone users in India invest in apps.
On a related note, Apple lost its place in India as OnePlus overtook the Cupertino-based giant in the race of premium smartphone market. OnePlus grabbed 40% of the market owing to its latest flagship device, OnePlus 6. Samsung came in 2nd to grab 34% of the share. On the other hand, Apple grabbed just 14% share of the premium handset market in India.