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Apple Doubled Its Business in India in Fiscal 2021, CEO Tim Cook Says

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3 years ago

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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.

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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

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Hollywood

Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

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2 weeks ago

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October 22, 2024

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Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.

Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)

Tom signs Nolan’s next

This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.

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Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).

Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.

Tom’s busy schedule

Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.

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As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.

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