Apple India doubles its business in fiscal 2021

Apple India doubles its business in fiscal 2021

Apple on Friday (October 29) announced the company's financial report for the fiscal 2021 fourth-quarter ending in September.

Despite the supply constraints faced by technology companies around the around, Apple posted a revenue record of $83.4 billion, up 29 percent year over year.

"We estimate these constraints had around a $6 billion revenue dollar impact-driven primarily by industry-wide silicon shortages and COVID-related manufacturing disruptions. Even so, we set an all-time record for Mac and quarterly records for iPhone, iPad, Wearables, Home and Accessories representing 30% year-over-year growth in products, " said Tim Cook, CEO, Apple.

This fiscal year, Apple reported $366 billion of revenue with around 33% annual growth. It also achieved more than 20% growth across all of our product categories and in every geographic segment.

Cook added that Apple earned nearly one-third of its revenue from emerging markets alone and was able to double its business in India and Vietnam this fiscal 2021. 
Apple currently assembles iPhone 12, 11, and XR through supplier partners such as Foxconn and Wistron in India.

The latest Counterpoint Research Q3 2021 (July-October) report showed Apple recording a massive 212 per cent year-over-year growth and leads the ultra-premium (Rs 45,000 or more) category with 74 per cent market share in India. Even in the Rs 30,000 and Rs 45,000 price segment, Apple has 44 per cent share.

Last quarter ending in June too, Apple registered stellar double-digit growth.

Must read | Apple registers stellar growth in 2021 fiscal third quarter in India

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