When Apple Inc surprised investors this week with a rise in iPhone sales despite a slump in the global smartphone market, Chief Executive Tim Cook credited emerging markets like India where the company is luring away Android phone users. Cook is betting that those markets will provide more opportunities for growth, with their youthful populations and relatively few iPhones. Shares...
Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, on April 18.When Apple Inc surprised investors this week with a rise in iPhone sales despite a slump in the global smartphone market, Chief Executive Tim Cook credited emerging markets like India where the company is luring away Android phone users.
Apple said iPhone sales rose 1.5 per cent to US$51.3 billion for its fiscal second quarter even as global smartphone shipments fell 13 per cent in January to March, according to research firm Canalys, whose data showed Apple gained market share from Android phones. India is perhaps Apple's biggest focus. The company recently opened its first two retail stores there, inand Delhi, and while Apple does not disclose revenue for the country, Cook told investors that it set a quarterly record and percentage growth was in very strong double digits year-over-year.
For Apple, selling an iPhone in an emerging market represents more than just the sale of one device – it represents the chance to get consumers hooked on Apple devices and services over time. Sales of refurbished iPhones rose 16per cent in volume globally during 2022. India led the growth with a 19per cent jump, according to Counterpoint, with iPhones accounting for 11 per cent of secondary smartphone sales in India.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of living got you down? Here are 5 ways to cut costs - Singapore NewsTake public transport, cook at home, stretch your dollar
Read more »
Apple's results send shares surging to 9 month highApple's stock surged nearly almost 5 per cent on Friday (May 5), hitting a nine-month high and on track for its biggest one-day gain since November after the iPhone maker's quarterly results cheered investors worried about a potential recession. The rally in Apple's shares buoyed optimism across Wall Street, helping lift the S&P 500 and Nasdaq over 1 per cent...
Read more »
India, Russia suspend negotiations to settle trade in rupees: SourcesIt would be a major setback for Indian importers of cheap oil and coal from Russia. Read more at straitstimes.com.
Read more »
Ethnic tensions in India's north-east force evacuation of thousands to guarded campsThe Indian Army said “approximately 13,000“ civilians had been rescued. Read more at straitstimes.com.
Read more »
Apple iPhone sales inch up, bolstering results amid shaky economyApple Inc's results beat expectations on Thursday (May 4), showing off the tech giant's resilience in a slowing global economy thanks to better-than-expected iPhone sales and notable inroads in India and other newer markets. Shares of the largest US company by market value rose two per cent after Apple exceeded Wall Street's expectations for revenue and profit for the April...
Read more »
How Apple stock became one of Warren Buffett's four 'jewels'Warren Buffett bought Apple for the first time in 2016, years after 'everyone' knew the company had a hit with the iPhone. Since then, Apple stock more than quintupled.
Read more »