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Apple Bullish on Indian Market With $61.1bn in Revenue

The iPhone maker reported $13 billion in revenue from Greater China

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Apple
Top apps using Siri Shortcuts to make daily tasks easier: Apple. Pixabay

As Apple posted a healthy revenue of $61.1 billion for its fiscal 2018 second quarter — defying global reports of a weakened demand for its iPhones — the company’s CEO Tim Cook said he will now put great energy into the growing Indian market.

During the company’s earnings call with media late Tuesday, Cook said: “Let me start with India, and then I’ll talk more about China. India, we set a new first-half record. So we continue to put great energy there… Our objective over time is to go in there with all of our different initiatives from retail and everything else.

“And so we’re working toward those things. It’s a huge market and it’s clear that many people will be moving into the middle class over time, as we’ve seen in other countries.”

The quarterly revenue of $61.1 billion was an increase of 16 per cent from the year-ago quarter and international sales accounted for 65 per cent of the quarter’s revenue.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, services and wearables,” Cook said in a statement.

“Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter.

Tim Cook
Tim Cook, CEO of Apple

“We also grew revenue in all of our geographic segments, with over 20 per cent growth in Greater China and Japan,” he informed.

Apple also announced $100 billion in additional stock buybacks.

“Given our confidence in Apple’s future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 per cent increase in our quarterly dividend,” said Luca Maestri, Apple’s CFO.

The iPhone maker reported $13 billion in revenue from Greater China.

“China, I continue to believe is a phenomenal country with lots of opportunity from a market point of view, but also lots of opportunity from an app developer’s point of view,” Cook said during the earnings call.

Also Read: Apple May Ditch its Popular ‘3D Touch’ Feature in Upcoming iPhones

“We have almost two million application developers in China that are writing apps for iOS and the App Store, and they’re doing unbelievably creative work and innovative work. So we look at China holistically, not only as a market, he noted.

Apple will complete the execution of the previous $210 billion share repurchase authorisation during the third fiscal quarter.

“Our business performed extremely well during the March quarter, as we grew earnings per share by 30 per cent and generated over $15 billion in operating cash flow,” said Maestri.  (IANS)

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Apple Launches Fitness Apps on Apple Watch Series 4 For Marathon Season

The marathon season begins with the "Mumbai Marathon" that is scheduled for January 20

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Apple Watch
Apple watch series 4.

Aiming to serve fitness enthusiasts better as “Mumbai Marathon 2019” inches closer, Apple has recommended some advanced activity, communications and health-tracking apps in its “Watch Series 4” to train people keeping a record of their resting, workout, recovery, walking and breathing sessions.

Activity competitions would allow users to challenge other ‘Apple Watch’ wearers, track active calories burned and exercise minutes earned.

Apple has recommended several apps on iPhone and Watch Series 4 apps to monitor people’s indoor and outdoor activities, along with pace alerts and automatic workout detection features.

Some of the apps include — “Strava – Run, Ride, Swim” app, “Streaks Workout” app, “Seven – 7 Minute Workout” app and “8fit Workouts and Meal Planner” app — among the others.

Apple, Iphone XR, Apple Watch
Try these fitness apps on Apple Watch Series 4 for marathon season. Flickr Commons

While the “Strava” app allows users to track and analyse key statistics like distance, pace, speed and elevation, the “Streaks Workout” app helps users customise their exercises.

“Seven – 7 Minute Workout” and “8fit Workouts and Meal Planner” apps provide workout and meal plans recommended by nutrition experts.

Also Read- Genes of Your Uncle or Aunt May Decide Your Longevity, Says Study

Other apps like “WaterMinder”, “Asana Rebel”, “Runkeeper” and “Breathe” to maintain users’ water intake and track their yoga, running and breathing activities.

The marathon season begins with the “Mumbai Marathon” that is scheduled for January 20.  (IANS)