Recently Apple announced that iPhones generated $26 billion that’s roughly Rs. 1,80,000 crores in revenue. This is for the company’s third-quarter, a drop of 12 percent in iPhone sales from last year’s June quarter. Globally, there’s a fall of 11 percent in iPhone shipments in the quarter. However, India witnessed a year-on-year growth of 19 percent growth in shipments. All thanks to discounts and promotional offers from the Cupertino-based tech giant.
During the earnings call, Tim Cook was pleased with the results. Seeing strong customer response to our in-store trade-in and financing programs, Apple is all charged up. And why not? We, Indians, love offers and discounts!
In fact, the retail and online stores returned to growth on a year-over-year basis in June was exponential. This added to iPhone sales performance in Q3 and showed a significant improvement from a 17 percent revenue decline in Q2. The active installed base of iPhone reached a new all-time high and was up year-over-year in each of Apple’s top 20 markets.
This success highlights the quality of Apple products and customer loyalty around the world. The highpoint is that despite the global decline, iPhone sales are improving.
Promotional offers and aggressive marketing helped Apple to drive revenues in India. It was the third consecutive quarter of a decline in Apple iPhone shipments. But to ramp up sales, Apple implemented price cuts for the iPhone XR in India and China markets.
Another achievement for Tim Cook and his team to be proud of is Apple pay. Apple Pay is now completing nearly one billion transactions per month. This is twice the volume of transactions a year ago.
In the June quarter, Apple Pay was launched in 17 more countries. And completed its coverage in the European Union and bringing in a total of 47 markets currently. Compared to PayPal, Apple Pay is adding more new users, and its monthly transaction volume is growing four times as fast.
In other news, thousands of Apple employees are now using Apple Card every day in a beta test. And it’s planned to begin the roll-out of Apple Card in August. Fingers crossed.
Apple also announced the acquisition of chip-maker Intel’s smartphone modem business for $1 billion. Tim Cook said they are working to grow their portfolio of wireless technology patents to over 17,000 and to expedite our development of future products.
It seems like everything is rolling out well for this giant tech, especially in India. As an Apple fan, I can only hope for the best.