Apple has shown significant improvement in the Indian market. The Cupertino giant generated 29% more revenue for the fiscal year of 2020 than a year earlier. We are talking about the amount of $ 1.85 billion. Also, Apple’s profits in India has grown exponentially. Today India along with China is the largest smartphone market.
Apple’s profits in India has grown exponentially
The smartphone manufacturer also posted an impressive net profit growth of $ 124 million, according to a DeccanHerald report. A year earlier, the company’s net profit in India was $ 35 million.
This confirms the growing popularity of the iPhone in the segment of premium smartphones; in which phones from OnePlus and Samsung also occupy high places. Tim Cook, CEO of Apple, recently said that the company set a record for the September quarter in India, thanks in part to a very strong reaction to the launch of an online store in the country this quarter. In September, the company finally launched its first online store in India, while increasing local iPhone production.
Such results are also explained by the increased demand for electronics; due to the transition to remote work in the country in conditions of self-isolation.
Apple will fill the iPhone 12 shortage on the holidays with older models
2020 has been a challenging year for everyone, including Apple. So, the Cupertino company was forced to postpone the start of production, announcement and release of the iPhone 12 due to the pandemic; which will also affect preparations for the running holiday season.
According to Nikkei, Apple is experiencing supply problems for the iPhone 12 (including power management chips), which could cause a supply shortage for the new smartphones during the holiday season. The Americans allegedly intend to cover it by the old models: Apple has placed orders for more than 20 million iPhone 11, iPhone SE and iPhone XR, which are still popular.
Curiously, these 20 million are a quarter of the projected iPhone 12 sales by the end of the year (75-80 million). All new batches of old devices will arrive without the charger box and headphones. But the iPhone 11 Pro and iPhone 11 Pro Max have already completed their journey; their production has been discontinued; so if you need a premium device, you will have to either take the leftovers from retailers, or wait for new small batches of iPhone 12 Pro. Apple declined to comment on the situation, which should come as no surprise.