Apple has announced its Q4, 2017 earnings, and it has blown past Wall Street analysts expectations. What s interesting to note however is that in India, Apple continues on its strong growth path. In fact, Apple India s revenues doubled year-over-year. Also Read - Apple hasn’t patch bug that leaked user data while using VPN: ReportAlso Read - Apple adds 'Top Subscriber Shows', 'Top Subscriber Channels' charts for podcasts
…revenue from emerging markets outside of greater China was up 40 percent, with great momentum in India, where revenue doubled year over year, Apple CEO Tim Cook said during the earnings call. Cook has attributed this growth in India to various factors, including local manufacturing, lowering of iPhone prices across segments, and its lobbying for setting up physical stores in the country. Also Read - After iPhone 14, Apple to launch redesigned entry-level iPad: Report
I feel like we’re making good progress there [in India] and are gaining understanding of the market, but we still have a long way to go, which I sort of see as an opportunity instead of a problem. And I do feel great about the growth rate, Cook added. DON’T MISS: Apple iPhone X first impressions: When you have to control your emotions
Apple recorded revenues of $52.6 billion, which is a 12 percent year-on-year growth. More importantly, this is way ahead of Wall Street s expectations of $46.9 billion.
We re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services, Cook said. With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn t be more excited as we begin to deliver our vision for the future with this stunning device.
In Q4, Apple sold 46.7 million iPhones, which is up three percent year-over-year. We were very pleased to see double digit iPhone growth in many emerging markets including mainland China, the Middle East, Central and Eastern Europe, India and Mexico, Apple CFO Luca Maestri said. ALSO READ: Apple iPhone X: How to set up and use Face ID
Apple s iPads continued on their growth path as Apple sold 10.3 billion units this quarter. This marks an 11 percent year-on-year growth, and it helped revenue grow by 14 percent. The company also revealed that there was a strong demand for the iPad and the iPad Pro. ALSO READ: Apple iPad Pro 2 review: It s what you make of it
It was great to see iPad unit and revenue growth in all of our geographic segments and particularly strong results in emerging markets, including greater China, where iPad units sales were up 25 percent year-over-year and India, which grew 39 percent, Maestri said.
Apple sold 5.4 million Macs this quarter, which marks a 25 percent year-over-year increase. Cook said that this was best year ever for the Macs, and much of this is fueled primarily by great demand for MacBook Pro .
An interesting takeaway from Apple s earnings is how well its service division is doing. This division, which constitutes of Apple Music and iCloud storage, brought in revenues of $8.5 billion in the past quarter, which is a 35 percent year-on-year increase. To put this into perspective, the services division brought in more revenue than AirPods, Apple TV, Watch, and iPad sales combined.