Shulou(Shulou.com)11/24 Report--

Thank CTOnews.com netizens soft media Xinyou 1933769 for the clue delivery! CTOnews.com, Oct. 29-Apple reported third-quarter results in August, which disappointed investors overall, but the Greater China market was surprisingly strong, while iPhone sales in India hit a record high.

Although Apple's earnings report did not mention details of revenue in India, according to Apple's regulatory filing with the companies Registry (RoC), Apple's business revenue in India this year is close to 500 billion rupees, another milestone for Apple in India.

Sales in 2022-23 rose 48 per cent to 493.21 billion rupees (CTOnews.com note: currently about 43.353 billion yuan), while net profit soared 76 per cent to 22.29 billion rupees, according to the data.

Apple India generates 94.6 per cent of its revenue from product sales and the remaining 5.4 per cent from after-sales maintenance and paid services, according to RoC filings. It is worth mentioning that apple has not fully expanded its services business in India, which accounts for about 30% of its global sales.

This is Apple's fastest increase in net profit in India in the past five years, according to the Economic Times. Analysts attribute the growth to an increased share of sales of a new generation of devices that provide higher profit margins. In addition, the cost of spare parts has also fallen, contributing to a surge in profits.

Tarun Pathak, director of research at Counterpoint Research, a mobile market tracker, predicts that Apple's business in India will continue to grow in the coming years.

Tarun Pathak, director of research at Counterpoint Research, predicts that Apple's business in India will continue to grow in the coming years.

Mohit Yadav, founder of Altlnfo, a business intelligence company, said the growth showed Apple's unlimited potential for expansion. "Apple has shown extraordinary financial prudence, which is reflected in the high percentage growth in revenue and profits, which shows that the company has unlimited growth potential," he said. "

While iPhone currently drives most sales in India, Patak believes that other sources of revenue, such as other products and services, will also make a significant contribution in the near future. He further explained that the increase in profits can be attributed to the increase in the share of the new generation of equipment, as evidenced by the continued rise in the average selling price of iPhone in India.

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