Apple to take a bigger bite from Indian smartphone market

Applauding the economic reforms unveiled by India, tech giant Apple’s CEO Tim Cook said the world’s third largest smartphone market presents a “very good business environment” going ahead.

With the growth slowing in iPhone sales, analysts expect sales of units of the smartphone to enter negative territory for just the first time later in 2016 due in part because of rumors from the supply chain of Apple of reduced orders for the iPhone 6S.

Apple could halt a slowdown in phone sales with a new device launching this spring.

While it is a probably a bit worrying for Apple that they’re not doing as well as in previous years we do find it hard to feel sorry for a company that only made $1 billion more than it did last year.

“We don’t live in 90-day quarters, and we don’t invest in 90-day quarters”, said Cook.

Apple has shipped more than a billion devices in the past: the company sold its billionth iOS device back in November 2014.

Mr Cook said: “Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV”. Meanwhile, iPad sales dipped 25 per cent year-on-year from 21.4m to 16.1m units sold.

Apple said that it expected revenue in the current quarter to be between US$50bil (RM212.79bil) and US$53bil (RM225.56bil).

Apple Inc is not even immune to a slowing market for smartphones.

Apple reported that revenue in China grew to a record $18.4 billion.

Apple’s “Other Products” category, which includes the Apple Watch, saw revenue jump 26 per cent year-on-year to $6.056 billion (£4.23 billion), although unit sales were again not revealed.

Cook called Apple’s services business “an unbelievable asset” for the company, and noted that Apple now has 1 billion “active” devices in use that can drive services sales.

Apple reported its “best quarter by far” for Apple TV sales during its fiscal first quarter, as the company posted record quarterly profit of US$18.4 billion.

“The fact remains that 2016 is year when Apple needs to come up with revolutionary rather than evolutionary product”.