India is becoming one of the fastest-growing markets for Apple Inc. as it surged the iPhone sales in the country. Apple has recently announced its financial results for Q4 2016 which ended on September 24. According to the results, the company has raised its iPhone sales with a whopping 50 percent growth in the fiscal year and is expecting more growth in the future here.
Apple has witnessed its first annual revenue decline in the 15-year time-frame where it pulled the revenues of $46.9 billion. The revenue of Q4 2016 is down about 9 percent from the last year. On contrary, India has encouraged the overall sales and contributed huge revenue to maintain the pace for Apple mobiles.
On the call of iPhone sales in India, Cook said that the sales in the country for the economic year 2016 were up over 50 percent to the prior year. Hence the rise in sales is the opportunity for the company to grab a fair share in such fast-growing market.
Apple mobiles recently entered into the partnership with Reliance Jio after looking the potential of Jio iPhone offer. The partnership seems to be a win-win situation for Apple. Speaking about the partnership, Cook said that Reliance Jio services are a first-of-its-kind all-IP network which has strong 4G coverage in major cities and villages across the country.
To recall, Reliance Jio is the talk-of-the-town due to its Jio Welcome offer which provides access to the unlimited 4G data and allows free HD voice calling. The Jio Welcome offer is officially valid until December 31, 2016, but for new iPhone buyers, the free service is available for a whole year. That mean a new iPhone user is applicable for free Jio services until December 31, 2017.
India has now one of the hottest markets for Apple following the Canada, Latin America, Central, Eastern Europe, and Western Europe, South Asia, and the Middle East.
Apple’s CEO Tim Cook had recently visited India but he hasn’t revealed anything about company’s plans for manufacturing their products in India. But, the company is expected to set-up their manufacturing unit in India via a partnership with Foxconn. This move will allow Apple to bring the Apple stores in India which will boost the sales.