Apple Reports Strong Growth In India Despite Chip Shortages

Apple's products have been gaining steam in India for over a year now, with older and now cheaper iPhones leading the charge.

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Apple has reported “strong growth” in India for the fourth consecutive quarter. “Today, Apple is reporting a very strong quarter with double digit revenue growth across our product and services categories and in every geographic segment. We set a new June quarter revenue record of $81.4 billion, up 36% from last year, and the vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India, Latin America and Vietnam,” Tim Cook, chief executive officer of Apple, said during the company’s earnings call for the quarter ended June 2021 last night.

Further, Cook also said that the company set a June quarter record for itself in India during the quarter. Answering a question about whether users are upgrading or switching from older iPhone, he said, “In Q3, we set June quarter records in Mexico and Brazil and Chile and Turkey and UAE and Poland and Czech Republic, India, obviously, and China, as I talked about before, Thailand, Malaysia, Vietnam, Cambodia, Indonesia. I could go on and name a few more. It’s a very long list. And so those results are for the entire line of products that we have.”

The company also said that the global chip shortage — which has affected almost every electronics and auto company in the world — has affected its ability to sell Macs and iPads this year. The company also said that the chip shortage will start affecting iPhone production enough for Apple to forecast slower revenue growth in the next quarter. The iPhone maker also said that while its global revenues for the fiscal fourth quarter will grow by double digits, they will remain below the growth rate by 36.4% in the quarter ended June 2021.

“We do have some shortages,” Cook said. “Where the demand has been so great and so beyond our own expectation that it’s difficult to get the entire set of parts within the lead times that we try to get those,” he added.

Apple’s iPhones have been gaining steam in India for over a year now, on the back of offers on older devices. The company still accounts for a very small part of India’s smartphone market though, given its premium positioning in the market.

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