Technology
Apple Doubled Its Business in India in Fiscal 2021, CEO Tim Cook Says
Apple CEO Tim Cook said on Friday’s company earnings conference call that Apple will double its operations in India in the 2021 fiscal year. The executive also said that nearly one-third of the company’s revenue this fiscal year came from emerging markets. Despite increasing progress in India, the Cupertino company failed to meet Wall Street’s expectations due to COVID-19 and its consequences in key markets, resulting in supply constraints.
Apple said its revenue for the fourth quarter ended September 25 was US$83.4 billion (approximately Rs 6,238 billion). Speaking to investors on the earnings conference call, 60-year-old Cook said: “We are optimistic about the future, especially when we see strong demand for our new products.” The executive did not disclose the factors that helped Apple achieve significant growth in India.
However, he did emphasize that the iPhone maker “has achieved double-digit growth in every region and set a September quarterly record in both developed and emerging markets.” It is worth noting that this is not the first time Cook has spoken vaguely about Apple’s growth in India and expressed optimism about further success in emerging markets. In January, he also stated that the company’s business in India had doubled in the previous quarter.
He also informed that a “quarterly record” was achieved in the Indian market in October last year. Just before the country’s holiday season, Apple launched the iPhone 13 series to help reposition the iPhone 12 model. The repositioning also caused the price of the old iPhone to fall. Nevertheless, some market experts believe that Apple’s update is not the main reason for its success in the country. Faisal Kawoosa, founder and chief analyst of market insight company TechArc, said: “What will definitely change is the growth of all products in the luxury goods sector.” He added that even in the Indian smartphone market, sales in the luxury segment (Rs 50,000 and above as defined by TechArc) doubled in one year.
He said this is because the luxury equipment and product segments and even lower segments are not affected by the COVID-19 pandemic in many ways. The analyst also cited market insight to emphasize that Apple’s iPhone sales in India exceeded 3 million units last year alone, and it is expected to exceed 4 million units this year.
News Source : Gadgets 360
In News
SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad
SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.
SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.
In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.
Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.
“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.
“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.
SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.
On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.
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