Apple's India revenue triples: This company is serious about India - Firstpost

Would you like to make Firstpost your default homepage?   Yes | No Most people in India might find Apple products a little too expensive for their pockets but that hasn't stopped the company from making a steady growth in India in terms of shipments and revenue. Now according to an Economic Times report, Apple's revenues for the year 2011-2012 were Rs 2,000 crore for the year ended March 2012. The report states that Apple India's revenues rose 223% to Rs 2003.9 crore in 2012, from Rs 620 crore a year ago. During the same period, the Indian unit's net profit shot up 431% to Rs 311.5 crore, from Rs 58.6 crore. In terms of numbers these are pretty big. As far as Apple's India strategy is concerned, there had been a marked change towards the end of 2012. It is likely that the strategic change was due to the phenomenal revenue growth  in 2011-2012. The report in ET also quotes analysts as saying that the company's India revenue could cross $1 billion for 2013-2014. Apple's iPhone back cover is seen. AP Apple has ramped up distribution and tied up with two national level distributors, Reddington and Ingram Micro, which have boosted shipments and increased Apple's presence  in local stores. Thanks to this, Apple was number two in terms of shipments for the fourth quarter of 2012. You can view details on that here. The company also launched an EMI scheme for  three of its smartphones— the iPhone 5, iPhone 4S and iPhone 4. The EMI scheme was later extended to the iPad 4th generation and the iPad 2 but this has been advertised as much as the smartphone scheme. Rival Samsung too seems have to sensed the danger posed by Apple's phenomenal growth. The company just launched its own scheme of 15 percent cash back offer with Standard Chartered and ICICI Bank for users who buy Samsung Galaxy S3, Galaxy Note 2, Galaxy Grand, Galaxy Tab2 as well as Galaxy Camera. Looks like the smartphone wars in India are just getting interesting with this war of EMI offers. Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted: Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures Please do not post comments that target a specific community, caste, nationality or religion. While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions. Comments will be moderated for abusive and offensive language. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHF9_JrO8cLQVp7Ww141ZxOYft-ng&url=http://www.firstpost.com/tech/apples-india-revenue-triples-this-company-is-serious-about-india-700498.html

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