Apple posted a net profit of $10.5 billion for the quarter ended March 26, 2016 (Q2FY16) and generated revenues of $50.6 billion. However, the company provided a lower revenue guidance of $41-43 billion for the next quarter amid slowing device sales. Here are some of the key takeaways from Apple’s call with investors: iPhone sales up 56% in India: Apple CEO Tim Cook said that iPhone sales were up 56% this quarter. He added that “I view India as where China was maybe seven to ten years ago from that point of view, and I think there's a really great opportunity there.” Earlier in November 2015, Apple India crossed the $1 billion sales mark for FY15. The registrar of companies filings showed that Apple India posted a 44% increase in sales to Rs 6,472.89 crore from Rs 4,500.35 crore and net profit doubled to Rs 242.85 crore from Rs 119.48 crore. iPhones sales slowing: Globally however, iPhone sales slowed. Apple sold 51.2 million iPhones this quarter, down from 61.2 million iPhones in the same quarter last year. Cook mentions that the company saw a very high level of customers switching to iPhone from Android and other operating systems. “In fact, we added more switchers from Android and other platforms in the first half of this year than any other six-month period ever,” he said. Services revenues up: Cook mentioned that Services revenue increased by 20% to $6 billion. App Store revenue was up 35%. Apple Music now has 13 million…
