Tim Cook explains why India could be the next China for Apple


Tim Cook explains why India could be the next China for Apple

Yesterday Apple announced financial results for its fiscal 2017 third quarter.

Mac sales were also flat at 4.2 million compared to the third quarter of 2016.

Heading into the earnings report, there were concerns that all the hype for the new iPhones was driving down sales of Apple's existing smartphones more than usual.

The so-called 10 anniversary iPhone 8 launch has been surrounded with speculation, some analysts suggested the phone would be delayed and would not be released until October, November or even 2018.

Apple sold 41 million iPhones over the last three months, which represents an increase of around just 2 percent.

During the third quarter, which corresponds to the second calendar quarter of the year, Apple sold 11.4 million iPads, up by 15 percent from almost 10 million iPads sold in the same period last year.

However, China remains a problem, with revenues down 10% year-on-year to slightly more than $8bn.

In the shadow of the upcoming iPhone 8 release, the date of which is widely speculated on, but as yet unannounced, and based on previous performances, analysts were expecting a slump, but sales rallied and the Cupertino giant was able to produce a positive report.

Apple reported improved sales growth in its fiscal third quarter to June, with revenue up 7 percent to United States dollars 45.41 billion, at the top of its forecast range.

The big surprise on the quarter was from the iPad: sales of the fondleslab to schools were up 32 per cent, boosting the tablet family overall, as Apple unveiled new services and programs aimed at teaching kids to code with its Swift programming language. Second, Apple CEO Tim Cook mentioned that Apple was going to have a "very exciting Fall". It posted revenue of $45.4 billion and a profit of $8.7 billion, or $1.67 per diluted share, with iPad and Apple Watch sales both showing strong growth.

Apple's looks at India as its next growth market since numbers in greater China have not been that great of late.

The increase in sales of the iPads have mostly been accredited to the increasing popularity of the newly introduced iPad Pro models. Apple also highlighted that 61 per cent of the revenue in the quarter came from outside the US.