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Retail Apple stores coming in India; iPhone sales up 51% in Q3FY16

Apple’s CEO Tim Cook said that iPhone sales in India were up 51% year-on-year during an analyst call for the quarter ended June 25, 2016 (Q3FY16). In the previous quarter (Q2FY16), iPhone sales in India grew by 56%. Cook also added that “India is now one of our fastest growing markets…We're looking forward to opening retail stores in India down the road." The company claims to have garnered a higher growth in overall revenue and iPhone sales in emerging markets like India, Brazil, Turkey, etc. Here are some of the key takeaways from Apple’s call with investors: Service revenues: Revenues from Apple’s Internet-based services like Apple Care, Apple Pay, licensing revenues, and other services stood at $5.9 billion, which grew by 19% y-o-y. Under services, the company says that its App Store revenue “was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record.” Apple also posted a separate “installed based related” non-GAAP revenues of $10.3 billion, which is up 29% from $8 billion in the same quarter last year, and an all-time high since FY14. These revenues account for paid installs and purchases from iTunes, Apple Music, App Store, Licensing, iCloud, and Apple Pay.  iPhone sales slowing but SE edition in demand Globally, iPhone sales have slowed down. The company sold 40.4 million units in this quarter, down 21% from 51.1 million units in the previous quarter (Q2FY16). In the same quarter last year (Q3FY15), Apple sold 47.5 million iPhones. Revenue from…

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