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iPhone Sales In India Could Bolster Apple’s Profit There To Over $1 Billion
[Report]
Apple’s making a big push in India, and it appears to be paying off. According
to an article in The Times of India, Apple India’s revenue already rose by a
factor of three last year, and analysts there expect the current brisk sales of
iPhones to boost the company’s bottom line to over $1 billion in the current
year.
While Apple does not disclose financials for the Indian sales unit, it does
file with the Indian Registrar of Companies. In that filing, Apple reported a
431 percent rise in net profit this year, which the Times attributes to iPhone
sales.
What’s even more interesting is that this meteoric rise in profitability came
before Apple’s current aggressive marketing efforts in the region over the past
six months, says The Times.
“The huge jump in revenues has made the company realise India’s potential.
Apple is now chasing volumes and looking at the numbers game,” Manasi Yadav of
IDC told the online news agency.
Shipments of iPhones have also risen threefold over the past six months, and
analysts in the region expect this sales growth to continue for the remainder
of this year, predicting a $1 billion revenue mark for the current fiscal year.
India hasn’t always been a high priority for Cupertino, with new products
taking months to be available in the country. It wasn’t until late 2011 that
Apple began getting products to the country closer to the global launch dates,
and September 2012 until the company appointed two regional retail distributors
and mounted a massive ad campaign.
Apple India also recently announced a buyback plan for iPhone 4, with
apparently attractive re-sale prices for the two generation old models.
Sounds like Apple has gotten the message that India is a viable market.
Source: The India Times
Via: TUAW
Image: Technorati
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