Apple Q4 Revenues Hit All-Time High Following Record Sales in India, US

Apple registered a new record in India in its fiscal Q4 quarter and the company generated an all-time revenue record for the Mac desktops in the country, it has announced. The July-September period saw Apple log record revenue in the country and is set to break the numbers in its fiscal 2020 Q1 (October-December period) as iPhone 11 series has witnessed stupendous response from the Indian buyers.

“Despite the tough compare, we generated an all-time revenue record for Mac in the US and in India and a fourth quarter revenue record in Japan”, Luca Maestri, Senior Vice President and Chief Financial Officer, told analysts over the earnings call late Wednesday. “More than half of the customers purchasing Macs during the quarter were new to Mac, and the active installed base of Macs again reached a new all-time high”, he added. “At a country level, we established new Q4 records in many major developed and emerging markets, including India”, he added.

India is back on Apple’s growth trajectory after some dull quarters in the past. In a big impetus for its India manufacturing dream, Apple has started production of its highly successful iPhone XR at its supplier Foxconn’s facility in Sriperumbudur, Chennai. Apple iPhone shipments grew 19 percent (YoY) in India in its last reported quarter.

Apple in August said it looks forward to welcoming customers at its first branded retail store in India soon. Reiterating that India is an important market for Apple, CEO Tim Cook recently said the current iPhone manufacturing will see maximum growth in the days to come amid the renewed push to open its branded retail stores in the country.

During the earnings call on Wednesday, Cook said: “The ECG app now available in 32 markets including India has become a widely celebrated illustration of Apple’s commitment to your health giving users the ability to document and monitor the functioning of their heart and provide critical data to their doctors”. For Cook, India has been a very important market in the long-term.

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