wordpress blog stats
Connect with us

Hi, what are you looking for?

Demonetization did not have an impact on Apple’s India sales: Tim Cook

“Despite the demonetization move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results, and so we were very happy about that,” said Apple’s CEO Tim Cook in response to a question about operations in India. Cook continued, “The demonetization impact has not worked its way through yet. It's still definitely having some overhang. But I think in the longer term, it's a great move, and I feel really good about how we're doing there. We are in discussions on a number of things, including retail stores, and fully intend to invest significantly in the country and believe it's a great place to be.” Note that in the previous quarter (Q4FY16), iPhone sales in India were up 50% year-on-year, although the company did not provide the absolute numbers in terms of units sold. Apple did not provide any India specific numbers this quarter, although SVP and CFO at Apple Luca Maestri said that, “We also established new all-time revenue records in most developed and emerging markets, with strong growth rates in many countries, including the U.S., Japan, Canada, France, Australia, Brazil, India, Turkey, and Russia.” Services revenues: Revenues from Apple’s Internet-based services like Applecare, Apple Pay, licensing revenues, and other services stood at $7.2 billion, growing 18% year on year. Under services, Apple mentions that  its App Store ‘broke all-time records’ during the holiday quarter, including $3 billion in purchases in December alone. Cook mentions that “Our innovative and vibrant developer…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ