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Apple Logs Global Revenue Up by 36%, Double-Digit Growth In India in June Quarter

Remarkable ‘Ups’ bagged by Apple…get the details

Thursday, 29th July 2021


Apple released its financial results for the third quarter of the fiscal year 2021 that ended on June 26 and declared record revenue in the June quarter. It shot up by 36 percent with $81.4 billion revenue, as compared to the same time last year.

 

According to Apple Inc. CEO Tim Cook, upcoming markets like India have contributed immensely to this massive growth. He said, on the earnings call, these markets have done extremely well with the sale of iPhones and other Apple devices, despite the effects of the second wave of Covid-19.

 

Cook said, “The vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India.”

Ever since the festive quarter of 2020, that is the October to December period, Apple has been on a high. Their India smartphone share had doubled to 4 percent during the time while an upward incline towards the sale of the iPhone 12 series that was announced around October last year, helped to set the groundwork for the June quarter record this year.

 

Cook also said, “This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important.”

Apple’s CFO Luca Maestri added, “Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices.”

 

Cook also said, “Today, Apple is reporting a very strong quarter with double-digit revenue growth across our product and services categories and in every geographic segment.”

Apple is expected to launch its iPhone 13 series worldwide, with additional features/upgrades over the previous series The new series is likely to come with an exorbitant price tag as its other devices, but the firm has said they will continue to have a range of products on offer that will suit different price points. For instance, the iPhone SE 2020 that was launched last year, is still available and according to Cook, must be considered as their “entry price point.”

 

The News Talkie Bureau

Source:

Indiatoday


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