“In the first three quarters of this fiscal year, iPhone sales in India were up 51 percent year-on-year”, Cook said.
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“This is fantastic”, said Cook during a quarterly earnings call on Tuesday.
The iPad was the only product category that saw a decline from 2014 on, though that’s no surprise.
Apple’s net income in Q3 was $7.8 billion a slide from previous year’s $10.68 billion.
Most of this, he explained, came from iPhone sales.
During the quarter, the number of iPhone sold were roughly around 40 million, therefore going by the guidance, AAPL sees 44 million units in the next quarter which is quite handsome given the grim times the stock has been through. Augmented reality, in which computer-generated content is overlaid on the real world, is one of the latest fixations in the technology business, with Pokemon GO among the first applications to catch on.
Cook admitted during the earnings call that consumers’ buying habits may be changing. Phone prices, for example, “can be a shock for people who are used to paying $199 for their smartphone”.
As more apps in other categories such as fitness, autos, home automation and education are developed, Apple stands to be a “prime beneficiary”, said Macquarie analyst Ben Schachter. Even if the iPhone 7 doesn’t offer any revolutionary new features, it’s likely to stimulate more upgrade demand than the iPhone 6s product cycle did.
But the macroeconomic headwinds remain for now, especially in China, one of the high-growth regions for Apple.
“We had a very successful launch of the iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June”.
“We expect the September quarter sell-through comparison to improve further”, he added. This surprisingly good performance has been put down to the iPhone SE. Especially the cash cows, the iPhone and the iPad are causing headaches, since the sales numbers are still declining.
Mondelez International Inc., the global snack giant that recently made a bid to acquire Hershey Co., posted second-quarter earnings that beat estimates after cost cuts helped offset sluggish sales.
“The growth was broad-based, with App Store revenue up 37 per cent to a new all-time high, in addition to strong increases in Music, iCloud, and AppleCare”, he said. So is everyone else. The company shared no data on sales of its pricey wearable. Research firm eMarketer says “mobile proximity” payments will hit $27 billion this year, and balloon to $210 billion by 2019.
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“Some of the true value in services may always go unrealized given that major businesses within other large Internet companies, like AWS in Amazon, Instagram/Oculus in Facebook, and YouTube in Google, are not fully appreciated in terms of value by investors”, he said. “The products that are in R&D, there is quite a bit of investment in there for products and services that are not now shipping or derivations of what is now shipping”.
