Apple Inc. (NASDAQ:AAPL) did not see India as a major market for its products in the initial years. But of late it has realized the potential of the Indian smartphone market, and is therefore, targeting the smartphone buyers in the region. As a result, the company’s revenue, by the end of 31st March 2015, in the Indian market touched the mark of $1 billion, claims a report from the Times of India.
Apple commands a premium appeal
Citing few sources, TOI informs that the company has approached the ministry of corporate affairs (MCA) for filing the final results, but there are good chances that the revenue has crossed the $1 billion mark.
The revenue in the year before was Rs. 4,500 crores, and it went up by 40% in the current year on YoY basis. From 2011-12, this is three times more. Sales of Apple devices have gone up by 42% in 2014-15, compared to the sales made in 2013-14, when they were noted at 9.28 lakhs, as per the figures disclosed by Cybermedia Research.
Experts believes that the customers looking for premium devices turn towards Apple Inc. (NASDAQ:AAPL), and Android devices do not interest them much. The market does not have many premium device manufacturers, and no Android smartphone maker is offering the premium devices, not even HTC and Samsung, and this is the prime reason their sales have fallen, believe experts.
Reason for Apple’s success in India
The new iPhones launched by Apple Inc. (NASDAQ:AAPL) last year, the iPhone 6 and the 6 Plus, contributed majorly to the sales this year. Since both the devices were priced high, therefore, it is very much possible that the growth in revenue has exceeded the growth in unit sales, says the report. “Considering the price points and last year’s launches, Apple is doing better-than-expected numbers in India,” said Shiv Putcha, associate director and consumer mobility lead for Asia Pacific in technology research firm IDC.
Apple Inc. (NASDAQ:AAPL) has resorted to aggressive marketing in India in recent years for gaining buyers. Since, Apple devices are premium priced, therefore, it is not possible for the customers to pay the amount in one go, and hence, the company is offering them with easy financing options.