Apple has announced its quarterly earnings for the third-quarter of 2016, and there are quite a few hits and misses. For one, the company reported revenue of $42.4 billion, which is above analysts’ expectation of $42.09 billion. But these numbers are still down from last year, when Apple had reported revenue of $49.6 billion in Q3. Apple still had positive news about the Indian market where iPhone sales continued with the double-digit growth, and revenues too reported a ‘healthy growth’. Also Read - New iPhone SE to be the most affordable 5G phone from Apple, to launch in 2022Also Read - iPhone 13 launch date and more details tipped as part of new leaks
Apple revealed that it sold 40.4 million iPhones, which is down 14.9 percent year-over-year, when it sold 47.5 million iPhones. In comparison, it sold 51.1 million iPhones last quarter. Apple managed to sell 9.95 million iPads in Q3, which too is down 8.7 percent from last year, when it sold 10.9 million iPads and 10.25 million iPads in the previous quarter. Lastly, the company managed to sell 4.25 million Macs in Q3, which too marks a 11.5 percent decrease from last year, when it sold 4.8 million units but a marginal growth from the last quarter when it had sold 4 million Macs. Also Read - iPhone 12 Mini reaches end of production already, say rumours
Despite the fall in the sale figures, Apple CEO Tim Cook was quite positive about the outcome. We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter, Cook said in a statement. We had a very successful launch of iPhone SE and we re thrilled by customers and developers response to software and services we previewed at WWDC in June.
India continues to play an important role for Apple, and yet again Cook touted the country as one of the fastest growing markets. iPhone sales in India continued with their ‘double-digit’ growth, and Apple also reported ‘healthy growth’ in revenues.
Cook reiterated his intentions to open Apple Stores in India. “We’re looking forward to opening retail stores in India down the road, and we see huge potential for that vibrant country,” he said. The Indian government recently tweaked the policies for FDI in single retail, especially related to local sourcing norms. Apple is said to be biding its time and intricately studying the tweaked norms before committing to opening its Stores in the country.
In the meantime, all eyes will be on the next quarter, when Apple will launch its next-generation iPhone 7 and iPhone 7 Plus. The company will be banking heavily on its next iPhones to reverse the dwindling sales.
Based on what we have come across so far, the upcoming iPhones are likely to look similar to last year s iPhone 6s and iPhone 6s Plus. Small changes will include redesigned antenna lines, and no 3.5mm audio jack. There are also rumors of a new space black color variant.
As for specifications, the iPhone 7 is expected to feature a new A10 processor, 2GB of RAM, while the iPhone 7 Plus variant will feature 3GB of RAM. One of the biggest differentiation will be on the camera front with the iPhone 7 Plus variant featuring a dual-camera setup. Other new features expected are TouchID sensor with ForceTouch, and waterproofing capabilities.