India weighs on Apple performance in Asia-Pacific - Mobile World Live

India weighs on Apple performance in Asia-Pacific

02 NOV 2018

Japan and China led a strong quarter for Apple in Asia Pacific, with each registering double-digit revenue growth in the vendor’s fiscal Q4, but India again disappointed.

Revenue in Japan in the period from 1 July to 29 September rose 34 per cent year-on-year to $5.16 billion, while in greater China the figure was up 16 per cent at $11.4 billion. Revenue in the rest of Asia Pacific grew 22 per cent to $3.43 billion, with the region accounting for 31.8 per cent of Apple’s total revenue (up from 31.3 per cent in the comparable 2017 period).

In an earnings call, Apple CEO Tim Cook noted strength in China, with double-digit growth in iPhone revenue and the performance of its Other Products categeory “a bit stronger than even the overall company number”.

India outlook
Cook said its business in India was flat, pointing to currency weakness as part of its challenge along with import duties on most of its products: “But I view these as speed bumps along a very long journey, and the long term is very, very strong there.”

“I’m a big believer in India. I am very bullish on the country and the people and our ability to do well there,” he said.

Apple held discussions with the Indian government and Cook expects at some point it will agree to allow the company to bring its stores into the country.

For a full breakdown of Apple’s overall performance and earnings during the quarter, click here.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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