The fourth-quarter financial results were declared earlier today by Apple, which matches the third calendar quarter of 2021. In the current quarter, the company reported a return of $83.4 billion along with a $20.6 billion quarterly profit. As per the reports by counterpoint, Apple is the most successful name in India in the premium and ultra-premium segments.
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Apple and its Multiplied Profits
Apple organised an earnings conference call on October 28, 2021. Tim Cook, the CEO, mentioned that the company multiplied its business in India and Vietnam during 2021. In contrast, the company recorded business worth $64.7 billion in revenue during the same quarter last year and had a net profit of $12.7 billion.
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The American tech giant continues to sustain its leadership in the premium and ultra-premium smartphone segment with a 44 and 74 per cent market share. Apple also witnessed a 212 per cent growth in India during Q3 2021.
As per Counterpoint reports, it all happened due to the strong demand for Apple iPhone 12, and the iPhone 11 series. It helped Apple maintain a substantial lead in India’s premium smartphone range. Apple’s latest iPhone flagship models come with bigger batteries, improved cameras and a 120Hz display on the Pro models. Moreover, these models cost the same as last year’s iPhone 12 series and start at Rs. 69,900.
Plus, the ongoing Flipkart Big Diwali Sale and Amazon Great Indian Festival also backed Apple selling its older iPhone models. The iPhone 12 series, which includes the iPhone 12 mini and the vanilla iPhone 12, were the best-selling smartphones during the sale. Apple sold over two lakh units of the iPhone 12 series during the sale on Flipkart.
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