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Apple registers record September quarter in India even as iPhone sales slump globally

The company credited launch of Apple online store in India, which went live on September 23, for boosting sales in the country.

October 30, 2020 / 06:26 PM IST

Apple CEO Tim Cook has credited record sales in India and other global markets for the tech giant’s better year-on-year revenue in its Q4FY20 financial results.

The company announced its results on October 29 and saw strong revenues despite the COVID-19 pandemic – largely backed by international markets.

“Geographically, we set September quarter records in the Americas, Europe and rest of Asia Pacific. We also set a September quarter record in India, thanks in part to a very strong reception to this quarter’s launch of our online store in the country,” Cook said.

The online store, which Cook credited for boosting sales in India went live in the country on September 23.

Overall revenue for the company in the quarter was $64.7 billion – up from last year’s numbers, however, Apple’s cash cow – iPhone saw sales slump 20 percent and profits dropped 7 percent to $12.7 billion.

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In fact, among the US’ “Big 4” tech giants, Apple saw its worst performance yet. Its share price sank more than four percent in after-hours trading.

The biggest hit as felt in China where revenue sunk 25 percent to $7.9 billion largely due to lack of new iPhones in the market during the quarter.

"Financial performance aside, I don't think this year will be a time that any of us look back on with great fondness or nostalgia," Cook said.

(With inputs from AFP)
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first published: Oct 30, 2020 11:07 am
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