Apple on Thursday said it doubled its business in India last quarter and even though its market share remained quite low relative to the size of the opportunity, it felt good about the trajectory it was taking in the world’s second-largest smartphone market.
During the company’s fiscal first-quarter earnings call, CEO Tim Cook once again stressed how its India online store had helped Apple achieve ‘great’ results, and revealed how it planned to increase its market share in India going forward by setting up physical retail stores.
The Cupertino-based tech giant posted all-time record revenue of USD 111.4 billion globally for the first quarter ended December 26, 2020, up 21 percent year-on-year. International sales accounted for 64 percent of the quarter's revenue. "... If you take India as an example, we doubled our business last quarter compared to the year-ago quarter. But our absolute level of business there is still quite low relative to the size of the opportunity," Cook said during an analyst call.
The company, which competes with players like Samsung and OnePlus in the premium smartphone segment, has been aggressively ramping up its presence in the Indian market. "India is one of those, where our share is quite low. It did improve from the year-ago quarter. Our business roughly doubled over that period of time. And so, we feel very good about the trajectory, Cook said.
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