comscore Apple India’s revenues set to cross the $1 billion mark this fiscal year: ET
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Apple India’s revenues set to cross the $1 billion mark this fiscal year: ET

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Apple in recent times has been aggressively selling its devices in India, tempting buyers with buyback offers and affordable EMI schemes. These tactics seem to be slowly bearing fruit and according to a report on ET, Apple India’s revenues rose three-fold to over Rs 2,000 crore for the year ending in March 2012 and is also likely to cross the $1 billion mark this year. Also Read - Nothing Ear 1, the company's first product officially launched in India

According to data collected from the Registrar of Companies, Apple India’s revenues rose 223 percent in FY 12 to Rs 2003.9 crore from Rs 620 crore a year ago and the total net profit too rose a staggering 431 percent to Rs 311.5 crore, from Rs 58.6 crore. These numbers were collected before Apple India introduced its marketing schemes and market analysts believe that this new aggressive strategy will boost the sales numbers and push the company’s top line over the $1 billion (about Rs 5,400 crore) mark in the current fiscal year. The report also quotes the findings of Canalys, a Singapore-based market research firm who say that iPhone shipments in India have risen three-fold in the past six months and that Apple would have grossed $500 million from iPhone sales in India alone in 2012-13.

Though the Indian market was for a long time more like an after-thought for the Cupertino company, it has now realized the high potential of this market and has since been trying to put an iDevice in the hands of every second person. Apple India appointed two retail distributors last year and is reportedly planning to open around 200 exclusive stores in the country by 2015. It has also made its devices more affordable by offering EMI schemes and buyback offers where it pays around Rs 7,000 for your old smartphone when you buy an iPhone 4.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: April 15, 2013 11:22 AM IST



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