Tuesday February 18, 2020
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Apple CEO Tim Cook is a Big Believer in India

Apple sold 9.7 million iPads during the quarter

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Apple CEO Tim Cook, Wikimedia

Admitting that his business in India was flat in the fiscal fourth quarter and weak currency trends worry him although these are just “speed bumps”, Apple CEO Tim Cook reiterated that he is a big believer in the country and can’t wait for the future there.

“The emerging markets that we’re seeing pressure in are markets like Turkey, India, Brazil, Russia. These are markets where currencies have weakened over the recent period.

“To give you a perspective in some detail, our business in India in Q4 was flat. Obviously, we would like to see that be a huge growth,” Cook said during an earnings call with analysts after announcing Apple’s Q4 2018 results late Thursday.

Tim Cook noted that the currency weakness has been part of their challenge in India.

“But I view these as speed bumps along a very long journey, though. And the long term I think is very, very strong there,” said the Apple CEO who spoke about the Indian market at great length after quite some time.

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Apple CEO Tim Cook speaks during a data privacy conference at the European Parliament in Brussels. VOA

Cook said he has had really great productive discussions with the Indian government.

“We’ve had really great productive discussions with the Indian government, and I fully expect that at some point, they will agree to allow us to bring our stores into the country,” Tim Cook responded to a question.

“We’ve been in discussions with them, and the discussions are going quite well,” he added.

The iPhone maker is seeking tax relief and other incentives from the government to begin assembling more handsets in the country and its proposal to set up a manufacturing unit is reportedly being evaluated.

According to Cook, “there are import duties in some or most of the product categories that we’re in and in some cases, they compound.

“This is an area that we’re giving lots of feedback on. We do manufacture some of the entry iPhones in India, and that project has gone well,” Cook told analysts.

Apple is currently assembling iPhone 6S in India with its partner Wistron.

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Big believer in India, weak currency just speed bump: Tim Cook.

“I am a big believer in India. I am very bullish on the country and the people and our ability to do well there,” Cook added.

According to industry experts, India is the fastest growing among the top 20 smartphone markets globally, with a large untapped user base potential in Tier 5 and 6 cities and beyond.

The current smartphone user base in India is around 450 million which is set to grow by leaps and bounds.

Tim Cook is aware of the tremendous growth opportunity in India.

“There’s a huge number of people that will move into the middle class. The government has really focused on reform in a major way and made some very bold moves.

“I applaud them for doing that and I can’t wait for the future there,” Cook said.

Tim Cook, however, said the sales of Mac and iPads have been very strong in India.

ipad, Apple
Apple CEO Tim Cook speaks during an event to announce new products, Oct. 30, 2018, in the Brooklyn borough of New York. VOA

“We were pleased with Mac momentum in emerging markets, with strong growth in Latin America, in India, the Middle East and Africa, and Central and Eastern Europe,” the Apple CEO said.

Mac has an active install base of over 100 million units globally.

Apple sold 9.7 million iPads during the quarter.

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“We generated iPad growth in a number of key regions around the world, including Latin America, Europe, Japan, India, and South Asia,” Cook announced.

Apple ended the quarter with $237.1 billion in cash plus marketable securities. (IANS)

Next Story

Upcoming Events in India

Know about the upcoming mega-events in India

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India Events
India organizes several events every year and these events are followed by some trends to hype up the event industry. Wikimedia Commons

India organizes several events every year and these events are followed by some trends to hype up the event industry, these trends are bang on and help in making the event successful. These trends keep on changing from time to time, but there are some trends which are evergreen and some are just for the time being. 

Indian markets are growing rapidly with the new industries and brands coming up, and these industries and brands conduct different events to gain interactive experience and popularity. The events in India are categorised into:

  • Entertainment Events- award ceremony, promotions, music or video release, gaming, etc.
  • Corporate Events- seminars, conferences, training programs, etc.
  • Social Events- birthday parties, weddings, get together, etc.
  • Educational Events- TEDx, community service, etc.

Let’s discuss about some of the events taking place in India.

India Events
TEDx is an educational events that takes place in various parts of India and the world. Wikimedia Commons

IPL- Indian Premier League

IPL tops the list of commercial events in India and is the biggest and most popular cricket league. Board of Cricket Control in India (BCCI) was the founder of IPL. The first event of IPL was organized in 2008 and since then it has grown leaps and bounds in popularity among the masses. IPL follows the Twenty20 cricket pattern and is played in the month of March or April and May. 

This is a franchisee based cricket league with eight teams which represent eight different cities in India. International cricket players also participate in this event. IPL became the first sporting event to be broadcasted live on YOUTUBE, in 2010. IPL has completed twelve seasons of the event and Mumbai Indians are the current title holders who the tournament in 2019.

SUNBURN

SUNBURN which is owned by Percept Ltd. started from Vagator beach, Goa in 2007, is now Asia’s largest music festival. It is a commercial Live EDM (Electronic Dance Music) festival in India, with a huge fan following, organized in Goa and Pune. Sunburn also organizes many concerts in IIMs, IITs, IISERs and many other colleges which helps the EDM craze grow among the teenagers and portrays an evolving modern change throughout Indian colleges. More than 100 international artists and DJs participate and play live in the main Sunburn event which takes place by the end of December. Sunburn gets an enthusiastic participation for this pandemonium of fun, food, music and frolic.

India Events
IPL tops the list of commercial events in India.

IGX- INDIAN GAMING EXPO

IGX is one of the largest gaming festival of India featuring IGX battles, cosplay, performances (like live gaming, music, stand-up comedy, etc.), workshops, panels, product launches, first look of games to be launched, experience of VR multiplayer, racing simulation and board games and exclusively the block buster games and latest hardware. It has been more than 3years now since the event is being organised and its visitors count is nearing the 100,000 mark. The distinct features of the event which make it sought after are its gaming cosplay and interaction of gamers, prospective and aspiring students with the representatives of universities and colleges in the field of computer games. The games offered in events like IGX are only for entertainment with no real money involved as gambling is restricted in India except for lotteries and horse racing. But you can enjoy the gaming experience at the brick and mortar casinos in Goa, Sikkim and Daman.

Even though Indian casinos cannot promote online casino games, and the situation with online betting in India is not 100% clear. Officially, betting and gambling are illegal in India. However, no laws specifically make online betting illegal, and there are numerous offshore betting platforms that accept bets from Indian citizens.

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Conclusion

Above we have discussed just a few events happening in India of different genres. There are many other commercial events, sports events, non-commercial events like ISL, Pro Kabaddi League, Pro Wrestling League, NH7 Weekender, India Bike Week, ESL, Dream Hack, Phoenix Gaming Expo(PGX), etc happening on a large scale all-round the year. All these events are done on a big scale to build an image, for a better interaction with interested prospects and to gain popularity.