The net profit doubled to Rs. 242.85 crore from Rs. 119.48 crore as the company widened its retail network and stepped up marketing efforts, including buyback schemes, installment programmes and discounts. Apple, the maker of hugely popular devices such as iPads, iPhones and Macs, registered an impressive growth of 44% in sales on a yoy basis in the country.
Advertisement
While the sale of iPhone increased by 35 per cent quarter-on-quarter in the last two years, in fiscal year 2013, it had posted revenue of Rs 3,057.79 crore.
Based on a filing at the Indian Registrar of Companies (RoC), Apple recently achieved a significant milestone in India, surpassing $1 billion in sales. At present, Apple has a 9% share in the Indian cell phone market, thus making it the third-largest brand in the region. Until then, it paid little attention to the market. Previously ignored, Apple has started introducing new model iPhones in India closer to their global launch date rather than months later.
This week, we reported that Apple is also upping its focus on breaking into the business and education markets in India – appointing more than 130 dedicated corporate resellers across the country, which it hopes to expand to 200+ resellers by March 2016.
Advertisement
The company changes its sales model in 2012 and has appointed retail distributors and began advertising campaigns.
