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27 July 2016
As the sales of Apple iPhones went through a
global slowdown except in India, the Cupertino-based tech giant's CEO Tim Cook
has announced to soon open retail stores in the country - a move that brings to
the fore the fact how important the Indian smartphone market has finally become
for Apple.
Apple's third-quarter net income plunged 27
per cent to $7.8 billion on a decline of iPhone sales. It sold 40.4 million
iPhones in the quarter, compared with 47.5 million in the same period of 2015. The Total Investment & Insurance Solutions
But sales of the Apple devices in India rose
51 per cent in the last three quarters compared with a year earlier, Cook said
on Tuesday.
"India is now one of our fastest growing
markets. In the first three quarters of this fiscal year, our iPhone sales in
India were up 51 percent year on year. We're looking forward to opening retail
stores in India down the road and we see huge potential for that vibrant
country," The Wall Street Journal reported, citing Cook.
The announcement was made on the sidelines of
Apple's Q3 2016 earnings call.
Cook, who visited India in the sweltering
heat of May announced the first development centre in Hyderabad to work on
Apple Maps and an app design and development centre in Bengaluru that will
support the Indian developers creating mobile apps for its iOS mobile platform.
In his much awaited meeting with Prime
Minister Narendra Modi, the 55-year-old Apple head stressed the possibilities
of manufacturing and retailing Apple devices in the country. The Total Investment & Insurance Solutions
Bullish on India's upcoming 4G revolution,
Cook told an Indian TV channel that 4G is critical for India's progress -- thus
setting up the roadmap for a possible alliance with some big players to help
Apple open more retail stores in the country. The Total Investment & Insurance Solutions
"I am looking at India holistically and
we are here for the next thousand years," Apple CEO Tim Cook had asserted. The Total Investment & Insurance Solutions
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