Wanna get our awesome news?
We will send you weekly news & updates. Isn't that cool?
Subscribe!

Actually we will not spam you and keep your personal data secure

Wanna get our awesome news?
We will send you emails only several times per week. Isn't that cool?
Subscribe!

Actually we will not spam you and keep your personal data secure

Sat, 23 Mar 2019

Northeast Today

Tim Cook Blamed Weak Currency for a Low Sale Point In India For Apple Products

Tim Cook Blamed Weak Currency for a Low Sale Point In India For Apple Products
November 02
11:37 2018

Apple on Friday reported a strong September quarter, registering $62.9 billion in revenue. Even as the company saw record iPhone sales globally, India continued to be a low point. Following the publication of Q4 earnings report, Apple CEO Tim Cook addressed the company’s dwindling position in India.

Cook blamed weak currency for snail paced growth in emerging markets like India. Like the previous quarter, Apple this time too had just 1% market share. Cook acknowledged the company’s business in India this quarter was “flat.”

He added that the company is under immense pressure in these emerging markets that have further led to increase in prices of its devices.

“In some cases, that resulted in us raising prices and those markets are not growing the way we would like to see,” Cook said.

Cook further pointed out that the company’s manufacturing of its entry-level iPhones “has gone well”. Apple manufactures the iPhone SE and iPhone 6 in India which are one of its cheapest iPhones.

Apple CEO however remains positive on India’s growing smartphone market describing the company’s fall as “speed bumps” in a long journey. “I am a big believer in India. I am very bullish on the country and the people and our ability to do well there,” Cook said.

Apple, however, still has no timeline on the launch of its retail stores in India.

“We’ve had really great productive discussions with the Indian government, and I fully expect that at some point, they will agree to allow us to bring our stores into the country. We’ve been in discussions with them, and the discussions are going quite well.”

Tags
Share

Related Articles

0 Comments