Apple India’s sales exceeded $4 billion, and profits growing by 3%

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The fiscal year of 2022 saw Apple’s overall revenues hit a record at $4.03 billion (Rs 33,381 crore) which was up 45 percent because of demand for its top iPhones.

According to filings with the registrar the company’s net profits increased by 3 percentage points to reach $150 millions (Rs 1,263 crore) in FY22.

Apple’s chief financial officers, Luca Maestri, stated during the earnings conference that India has set a record-breaking all-time record for revenue with respect to iPhone sales during the quarter.

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In all, which includes Apple India, the company’s fourth quarter revenues of $90.1 billion was up by 8% year-on last year, while the annual revenues of $394.3 billion was up by the same amount also.

Its iPhone sector, specifically the iPhone sector, saw sales rise 10% year-on-year to $42.6 billion during the fiscal quarter which was completed on September 24, end of the fiscal year.

Apple India’s total expenses totaled $3.84 billion (Rs 31,693 crore) this is which is an increase of 49 percent over the previous fiscal year’s $2.58 billion (Rs 21,297 crore) due to an increase in costs as well as expense for employee benefits.

In the market study firm Counterpoint Research, Apple sold more than 6 . million iPhone gadgets throughout India by 2021. This is which is more than double the 3 million sold in 2020. This is due to the an aggressive growth in its presence offline as well as increased manufacturing capabilities in India.
Apple has announced that it was launching production of iPhone 14 in India. iPhone 14 in India, an initiative that could help India’s plans to be a major manufacturing hub in the world.

According Counterpoint’s data, Apple is now one of the most prominent brands in India’s top smartphone segment (above Rs 3000) and is the most popular name in the high-end segment (above the price of Rs 45,000).

It is currently controlling 37 percent of the top smartphone market, and 37% share of overall smartphone industry in the country.

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