On May 1, Tim Cook presented a report on Apple’s earning in the second quarter of the current fiscal year. The total revenue was $58 billion (a year-on-year decline of 5%). Though the sales of iPhone and Macs dropped significantly, iPads saw a record growth with revenue up 22%. Even the services revenue touched $11.5 billion. All in all, this quarter wasn’t as bad as
Tim Cook Talks about Apple India
But for us, the highlight of the presentation was something else. Tim Cook informed us about the cost ‘adjustment’ of some of the iPhones (read: iPhone XR discounts) had delivered better sales in India. Well, what can I say? We, Indians are easily allured by offers and discounts. Now assimilating this learning, let’s see how Apple strategizes future pricing in India.
Also in the presentation, speaking as a true businessman, he acknowledged that India is a challenging market for short-term goals. However, he sees it as a very important market in the long run. Hence, Apple is making big investments in the country. Apple India is also expanding its manufacturing capabilities to address the local demand better.
“It’s a long-term play (in India). It’s (India) not something that’s going to be on overnight huge business. But I think the growth potential is phenomenal. It doesn’t bother me that it’s primarily Android business at the moment because that just means there’s a lot of opportunities there,” he said.
Apple has Bigger Plans for India
The company is in talking terms with the government to place Apple retail stores on the Indian Map. Apple India is slowly yet steadily planning to make deeper inroads in the country. Statistically, there are over 450 million smartphone users in India. But mostly Andriod, coming from the land of the red dragons, China.
An insider tip for Tim Cook and co. – We don’t even like or trust Chinese products. You can easily push into the competition, we got your back. But, but only if you continue to ‘readjust’ your pricing!