Apple Laptops Sales Escalate in India Amid Economic Slowdown

Asia & Pacific

Get short URL

New Delhi (Sputnik): At a time when India is facing a slump in the economy, the sales of Apple’s expensive laptops have registered an up-swing in the country.

Fueled by growth in digital services and wearables, the iPhone-maker posted quarterly revenue of $64 billion (Rs.4.53 billion approx.) when announcing the results for the fourth fiscal quarter of 2019, media reported on Thursday.

Product sales in international markets, including India, accounted for a hefty 60 per cent of the $64 billion revenue Apple garnered last quarter.

In India, the starting price for Apple laptops – MacBooks, is a hefty $850 (Rs. 60,000) and can go up to over $3,000 approx. (Rs.225,000) for 8th Gen MacBook Pro laptops.

The latest versions of Apple Watch Series 5 and iPhone 11 launched earlier in September, and also cost outlandishly- between over $560 (Rs.40,000) and $1,400 approx. (Rs.99,900) – as their starting prices.

The Indian economy has remained sluggish, with GDP growth the slowest in over six years in the face of a sharp deceleration in consumer demand and lukewarm investment.

Despite the slowdown, earlier this week it was revealed that the tech-savvy young country defied the economic slump to the benefit of smartphone makers from around the world.

Growing by 10 per cent, smartphone shipments hit a new record high of 49 million units during the third quarter of 2019, driven by new product launches and special discounts, research firm Counterpoint said in a report on Thursday.

While Apple failed to disclose specifics about its India revenue, Luca Maestri, Chief Financial Officer (CFO) of the Cupertino-based tech giant did note that the company posted its all-time record for Mac revenue in the country.

Earlier in September, media reported that Apple was set to invest $1 billion to launch iPhone production in India; strengthening its grip on the highly competitive Indian smartphone market. 

In addition, the company also decided to put in an extra $13 million specifically to expand its online and retail presence in the country. 

Apple’s profit in the quarter that ended in September nose-dived four per cent from a year ago to $13.7 billion, revenues soared up two per cent to $64 billion.

The company expects to earn $85.5 billion to $89.5 billion in sales for its fiscal first quarter that ends in December. 

The all-in-one Content Marketing Platform for research, optimization, and marketing.

Easily collect leads with our Content Marketing Software. Upgrade to Full Member status today and replace this ad with your own call to action ad.