15 C
Jaipur
Sunday, November 29, 2020

Apple Reports Record Quarter in India as Mac and Services Hit ‘All-Time Records’ Globally

Must read

Where to buy Oculus Quest 2 on Cyber Monday – and why are there no deals?

Looking for Oculus Quest 2 Cyber Monday deals? Unfortunately, we haven't really seen any across the Black Friday weekend. In fact, the VR headset...

See how iPhone XR deals came down to only £20 a month this Black Friday weekend

If you're in the market for a fairly priced iPhone, it's likely you'll have considered some iPhone XR deals before. While it's not quite...

Xbox Series X controllers are at their best price yet for Cyber Monday

If you're after a good Xbox Series X Cyber Monday deal, these Xbox Series X controllers should do just the trick. You'll find a...

Incredible Cyber Monday deal: save £1,877 on this 55-inch Alienware gaming OLED monitor

Dell has stolen the limelight this sales season with the Alienware 55-inch AW5520QF getting a major £1,877 price cut – and this stellar early...

Apple on Thursday announced its financial results for the last fiscal quarter, reporting record revenues despite the pandemic and the resultant economic downturn. While the company reported strong performance in most markets, one of the highlights was its growth in India, which saw the launch of its first online store last month.

In an earnings call following the announcement of the results, Apple CEO, Tim Cook, said: “Geographically, we set September quarter records in the Americas, Europe and rest of Asia Pacific. We also set a September quarter record in India, thanks in part to a very strong reception to this quarter’s launch of our online store in the country”.

The results are in line with a recent Canalys report which claimed that Apple had a stellar July-September quarter in India this year, shipping nearly 800,000 iPhones during this period. According to the report, increased iPhone sales in India was the direct result of the company’s heightened focus in the country including the opening of the aforementioned online store.

In terms of numbers, Apple posted revenues of $64.7 billion and profits of $12.67 billion in the last quarter (Q4, 2020 for Apple), with international sales accounting for 59% of the revenues. The results were led by “all-time records for Mac and services”, although, iPhone sales remained soft. The company had reported revenues of $64 billion and profits of $13.69 billion during the same period last year.

In spite of the better-than-expected results, the company’s stock was down 5% in after-hours trading in New York on Thursday as investors expressed their concerns over worse-than-expected iPhone sales. The company reported a 20% slump in revenues and 7% drop in profits from its smartphone business, as China proved to be the biggest under-performer with revenues in the country declining 25% to $7.9 billion.

Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Where to buy Oculus Quest 2 on Cyber Monday – and why are there no deals?

Looking for Oculus Quest 2 Cyber Monday deals? Unfortunately, we haven't really seen any across the Black Friday weekend. In fact, the VR headset...

See how iPhone XR deals came down to only £20 a month this Black Friday weekend

If you're in the market for a fairly priced iPhone, it's likely you'll have considered some iPhone XR deals before. While it's not quite...

Xbox Series X controllers are at their best price yet for Cyber Monday

If you're after a good Xbox Series X Cyber Monday deal, these Xbox Series X controllers should do just the trick. You'll find a...

Incredible Cyber Monday deal: save £1,877 on this 55-inch Alienware gaming OLED monitor

Dell has stolen the limelight this sales season with the Alienware 55-inch AW5520QF getting a major £1,877 price cut – and this stellar early...

Chiefs vs Buccaneers live stream: how to watch huge NFL match-up from anywhere now

One of the games of the weekend sees the Kansas City Chiefs rock up to Tampa Bay's Ray Jay Stadium, where they could dish...