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The Silicon Review Asia

June Quarter: Apple’s India Market Records Promising Growth

June Quarter: Apple’s India Market Records Promising Growth

After witnessing revenuesdecline in the first six months, smartphone maker, Apple, bounces back and records a double-digit growth in revenue year-on-year in the quarter ended June 2019, The Economic Times reported on Wednesday.

According to the report, India was among the emerging countries that performed better than previously for Apple.As compared to a far steeper fall in the prior quarters of the financial year ending September this year, the revenue rose three percent in the quarter.

“India bounced back. During the quarter, we returned to growth there. We're very happy with that,” said Apple Chief Executive Officer Tim Cook during the earnings call for the quarter ended June 2019.

While the emerging markets ‘had a bit of a rebound’ and that on a constant currency basis, revenues were up slightly in these markets but it still declined on a reported basis, the CEO added.

Luca Maestri, Apple Chief Financial Officer, elaborated however during the earnings call Wednesday morning that growth returned to emerging markets, specifically Mainland China. “... grew strong double digits in India and Brazil and we set new Q3 records in Thailand, Vietnam and the Philippines,” he said.

“On a geographic basis, we saw marked improvement in our year-over-year comparisons from emerging markets relative to the first half of this fiscal year, particularly in the BRIC countries, where year-over-year performance went from a 25 per cent revenue decline in the first half to 3 per cent growth in the June quarter,” Mr. Maestri added.


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