Apple India Update: Attitude changed after record profit, Apple preparing to play China’s bet in India.
New Delhi: Apple Inc., the US company that made the iPhone, had earned record revenue in India in the last quarter. The company is now preparing to play big bets in India. According to a Bloomberg report, Apple is making changes in the management of its international business and more focus is being placed on India. According to sources, for the first time India is being made a separate sales region in the company. This is being seen as the growing stature of India in the world. Apple is the largest company in the world by market cap. Its market cap is $2.418 trillion. Apple has created an online store for India and is set to open its first retail outlet in the country this year.
Hugues Asseman, the company’s Vice President for India, Middle East, Mediterranean, East Europe and Africa, recently retired. Only after this the company is going to make this change. The company is promoting its head Ashish Chowdhary in India. Till now he used to report to Asseman but will now report directly to Apple’s product sales head Michael Fenger. The company spokesperson declined to comment. In the last quarter, the company’s total sales in India declined by five per cent but its revenue reached a record level.
Bet on india
In the last earnings call, the company’s CEO Tim Cook had said that Apple is putting a lot of emphasis on the Indian market. He had said that work is being done in India in the same way as it had done earlier in China. Apple’s annual revenue in China is around $75 billion. It is its largest sales region after America and Europe. Apple is also pushing to make iPhone in India as well. Many of its suppliers have set up units in India. Now Foxconn is also preparing for big investment in India.
