Apple Inc Registers Record Revenue Jump in India

Apple Inc’s revenue from India jumped about 10 times in the financial year ended March 2014 to Rs 4,500 crore from Rs 446 crore in FY10.

In FY14, Apple's India unit has spent Rs 4,318 crore, which includes all operational expenses, in the country, from Rs 387 crore in FY10. The company recorded a profit of Rs 312 crore in FY12, which shrunk to Rs 113 crore in the next year. In FY12, Apple India's revenues rose 223 per cent to Rs 2,004 crore and net profit soared 431 per cent to Rs 312 crore, according to a filing by the US based company to the registrar of companies.

While the company does not reveal its India sales numbers, industry estimates indicate it sold 1.02 million iPhones between October 2013 and August 2014.

In the smartphone market, Apple had a mere 1.5 per cent share (volume) in India, at the end of the July-September quarter, down from 2.4 per cent in the previous one, according to estimates by independent research agencies. In value terms, its share was estimated at 5.5 per cent in the July-September quarter in the estimated Rs 40,000-crore smartphone market in India, down from 9.2 per cent in the previous quarter. The market is dominated by South Korea's major Samsung Electronics, followed by domestic firms Micromax and Karbonn.

This year, Apple launched iPhone 6 and iPhone 6 Plus in India just before Diwali, only 28 days after it started selling the device in the US. With increasing sales numbers, Apple has also reduced the time-gap between availability of iPhone in the US and India, by 91 per cent. This is a notable development, considering the fact that iPhone 4 came to India 337 days after its US launch, while iPhone 4S came 164 days later, and iPhone 5S and 5C by 42 days later.