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  • Official Data Reveals that Apple Crossed its $1 Billion Sales Mark in India

    According to recently published data from Indiaís Registrar of Companies, Apple ended up achieving its first $1 billion in Indian sales in an annual period ending last March. The Times of India mentioned that the Cupertino California company company managed a 44% increase in sales year-over-year and ended up doubling its net profits. The performance was attributed to an expanded reseller network and better marketing, including efforts to make products more affordable such as discounts, buybacks and installment programs.

    Apple Indiaís parent company didnít claim any dividend from fiscal 2015 operations despite the local sales having doubled in the past two years. Apple India had the following to say in its annual report regarding the matter:

    With a view to conserving its financial resources, no dividend payout to the company's shareholders has been recommended by the board of directors for the current year.
    For those of you who didnít know, Apple has had a tough time breaking into the Indian market since its products are often too expensive for the average person and it was previously unaccustomed to the nature of retail phone sales in the country. The iPhone seems to have a 9% share of the Indian cellphone market but itís still currently eclipsed by Samsung and Micromax, which offers cheaper alternatives. Another issue that Apple had faced was launch lag. Although he gap between American and Indian product launches has been getting smaller in certain cases, the Apple Watch shipped to India just two weeks ago which is seven months after its debut in the US and eight other regions.

    Weíll have to wait and see how Apple performs going forward but things are looking pretty good.

    Source: Times of India via AppleInsider
    This article was originally published in forum thread: Official Data Reveals that Apple Crossed its $1 Billion Sales Mark in India started by Akshay Masand View original post
    Comments 1 Comment
    1. uri8472's Avatar
      uri8472 -
      I don't think this is so surprising considering how over populated India is, to the point of taking the crown from China. In other words, Apple is riding a birth rate rivaled only by wild hares.