Apple's faithful customers aren't snapping up iPhones quite as enthusiastically as was anticipated heading into the crucial holiday shopping season.
But the latest models, costing $1,000 (Rs 74,000 approx) and more, are popular enough to keep propelling profits ever higher for the company. The quarter results have proven that Apple is capable of minting money without having to worry about adding more users to its base.
The mixed bag emerged in the quarterly results Apple released on Thursday, 1 November, amid jitters about how the company and the rest of the technology industry will fare in the face of myriad threats to growth.
However, in India, things seem bleak for the company, as here it hasn’t been able to push its market share, pulled further down by rising duty costs and product pricing that puts the iPhone XS Max for as high as Rs 1.45 lakh.
The company still believes it can do well in India. Bullish is the term it often uses to show its interest, but the numbers show a grim reality.
CEO Tim Cook was quick to point out that in India the future of the company can be bright if all the conditions work in its favour. He’s hopeful that opening up stores in the country after the government’s approval will turn things around.
He also highlighted that India is among the emerging markets where Apple is facing pressure and the market is not growing the way it would have liked, adding that the recent price hikes are a minor speed-bump that’ll slowly tail off in the long term.
While Apple’s sales go up during the launch period in the country, the honeymoon period has a short life. According to a recent Counterpoint report, Apple managed to grab 25 percent market share in the premium smartphone segment, which is lead by OnePlus (30 percent) and Samsung (28 percent).
But the steep increase in prices of iPhone, as well as the old and new MacBooks could derail Apple’s chances of climbing the ladder. And if Apple strives to replicate the Q4 2018 results, it’s quite possible that iPhone XI in 2019 breaches the $1200 price mark for the base variant.
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