Currently Apple Inc. (NASDAQ:AAPL) has been on the trend of its first annual decline. However, could India be the country that changes the outlook for Apple and revenue growth? It was reported by the CEO of Apple, Steve Cook that the company would be playing a closer focus on its revenue growth in the region.
The main reason behind this sudden interest with iPhones in the India market is due to the according to the information acquired from the fourth-fiscal quarter. Through this information, it was illustrated that iPhone sales fluctuated the revenue growth for the tech giant by over 50 percent in the region.
Although many analysts claimed this may have just been a ‘flash of luck’ for the company, the CEO disagrees. He further stated that he sees India as an opportunity as the reports for the third fiscal quarter indicated a 51% growth in revenue from India.
Development of Apple technology in India
Currently, in accordance with information supplied by Cook, it has been indicated that India is in the process of a large revamp in terms of networking. It was revealed that Reliance Jio would be rolling out the first IP network of its kind throughout the country.
The expected overview of this networking will encompass 4G coverage throughout 18,000 cities, as well as 200,000 villagers. The reason this is significant was indicated by Cook later on.
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Cook stated, “They’re offering a free year of service to purchasers of the new iPhone and we’re partnering with them to ensure great iPhone performance on their network.”
This is one of the various countries that are indicating strong growth in iPhone sales for Apple. It was announced that other countries with the same indications include Eastern, and Central Europe, Middle East, Latin America, Canada, and South East Asia.
Reason Why Cook believes India will be a source of strong growth
When questioned on whether the company believes that India will be as influential as the Chinese market for the company. Cook responded stating that various aspects and demographics illustrate that the company can expect rapid growth. As well as, positive outlook in terms of revenue growth and development in the market segment.
Currently, the most popular phone per reports in the Indian market is the cheapest option available, the iPhone 5s. However, the company disclosed that its iPhone 7, and iPhone 7 Plus series are doing comparably well.
