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  1. Apple CEO Tim Cook compares India with China, here is what he said

Apple CEO Tim Cook compares India with China, here is what he said

Apple CEO Tim Cook has said he was bullish and very optimistic about India. He also said that he found a lot of similarities between India and where China was several years ago.

By: | New Delhi | Updated: August 2, 2017 9:22 AM
Apple, Apple India, Apple Tim Cook, Apple Q3 India, Apple earnings call, Apple india outlook, india china, china news, i phone, i phone in india, apple in india, apple ceo Apple CEO Tim Cook has said he was bullish and very optimistic about India. He also said that he found a lot of similarities between India and where China was several years ago. (Reuters image)

Apple CEO Tim Cook has said he was bullish and very optimistic about India. He also said that he found a lot of similarities between India and where China was several years ago, according to Indian Express report. It has been learned that Apple is eyeing India as its next growth market since numbers in China have not been good of late, the report says. Listing out the company’s investments in India, the Apple CEO said it had already launched an app accelerator centre and was looking forward to expanding its go-to-market in general.

Cook also said that production for iPhone SE will begin in India during this quarter. He said the company was really happy with how that’s going. “So we’re bringing all of our energies to bear there,” he said.

According to the report, revenue from both Greater China and Rest of Asia showed a sequential dip of -25 and -28 per cent respectively this quarter.

Apple has reported stronger-than-expected results for the past quarter, with higher revenues and profits, delivering a boost to its share price. Profit climbed 12 per cent to USD 8.7 billion, and revenue rose per cent to USD 45.4 billion, with the California-based company selling 41 million iPhones in the fiscal third quarter to July 1. Shares rose more than five per cent to USD 158.12 in after-market trades that followed released of the earnings report.

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“We’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for services revenue,” Apple chief executive Tim Cook said in a release, accoording to AFP report.

Apple has been highlighting the increasing amount of money it brings in selling digital content and services to people using its popular devices. The move is seen by some as an effort to assure investors that the company’s fortunes doesn’t rest solely on sales of iPhones, which have been its main revenue driver. Apple also highlighted that 61 per cent of the revenue in the quarter came from outside the United States.

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