Tim Cook says iPhone Sales in India Grew 400% Last Quarter; Buybacks & EMIs Helped

Apple CEO Tim Cook. Image Credit: Wikipedia
Apple CEO Tim Cook. Image Credit: Wikipedia

Apple CEO Tim Cook said that iPhone sales in India grew over 400% in the last quarter (April-June 2013) when compared to the quarter before it. At the quarterly earnings announcement, he also said that that Apple saw increased sales in other countries like Philippines, Turkey and Poland.

Cook specifically said that sales of iPhone 5 and iPhone 4 were strong, and added that the buyback schemes launched in India with the iPhone 4 helped increase its sales. Apple was the first to introduce the buyback scheme for high end smartphones in the country which has now been followed by its competitors like Samsung, BlackBerry and Sony.

Just last week, there was a report that Apple sales had fallen drastically in India. The report stated that Apple sales had fallen from 230,000 in the October-December quarter of last year to 120,000 iPhones in India in the January – March quarter. If this report was true it means that Apple saw a huge spike in iPhone sales during the last quarter.

In total, Apple sold 31.2 million iPhones last quarter, which is the highest they have seen from the quarter ever. Overall, revenue was only up 1% for the quarter and was at $35.3 billion. The company also reported that it had cash and securities worth $146.6 billion.

The average selling point of an iPhone was down to $581, versus $613 last quarter. This shows that Apple is moving a lot of iPhone 4 and iPhone 4s which cost less than the iPhone 5.

Apple also announced that India registered a double digit growth in iPad sales, but this was reported on a year-on-year basis. This could be due to the fact that the iPad Mini was launched during the period which brought down the entry price of the much sought after tablet.

iPad sales have dropped on a yearly basis. Apple managed to sell only 14.6 million iPads when compared to 17 million units in the year-ago quarter. Apple did not release any new tablet during the last quarter and this could have been a contributing factor. The company also sold 3.8 million Macs as opposed to 4 million in the year-ago quarter. Surprisingly it did not disclose numbers for the iPod for the first time ever.

Net income for the quarter was $6.9 billion. Just for comparison, Samsung on the other hand reported that it made $8.33 billion in profit during the same quarter.

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