Apple records stellar growth in iPhone, iPad sales in India

Cupertino giant Apple on Tuesday announced Q1 results ending December 28 2019. It posted a record quarterly revenue of $91.8 billion, an increase of 9% compared to past year same period.

. It is said to be an all-time record, and its quarterly earnings per diluted share of $4.99, up 19 percent, also an all-time record. International sales accounted for 61 percent of the quarter’s revenue, the company said.

. “We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,” Tim Cook, CEO, Apple said.

. “During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board,” Cook added.

. Must read | Apple iPhone 11 Pro review: Ultimate camera champion

. Apple iPhone alone generated 56 billion dollars, up 8% over a year ago. The credit goes overwhelming response to 2019-series iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max. The company claimed, the iPhone 11 was its top-selling model every week during the December quarter, and the three new models were the three most popular iPhones.

. Must read | Apple iPhone 11: The go-to Apple mobile of 2019

. Apple's PC Mac series and iPad generated $7.2 and $6 billion in revenue respectively. They had good growth in sales all geographic segments.

. Apple financial results also shed light company's performance in India. Thanks to optimised pricing and local product assembling, it recorded stellar double-digit growth in iPhone sales.

. Must read | Apple iPad (7th gen) review: Value-for-money tablet

. Even iPad saw steady growth in India and other emerging markets such as Mexico, Turkey, Poland, Thailand, Malaysia, the Philippines, and Vietnam.

. The company has claimed the services, home and wearables (AirPods and Watch) to witnessed superb growth. Tim Cook said the company couldn't meet the demand for wearables in the last christmas holiday season. Despite that they were able to record $10 billion in revenue, $3 billion more than Mac PC revenue.

. Apple is providing the following guidance for its fiscal 2020 second quarter: • Revenue between $63.0 billion and $67.0 billion • Gross margin between 38.0 percent and 39.0 percent • Operating expenses between $9.6 billion and $9.7 billion • Other income/(expense) of $250 million • Tax rate of approximately 16.5 percent

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Apple records stellar growth in iPhone, iPad sales in India

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