Apple India has published its sales figures for fiscal year 2016/17 and has grown by 17 percent over the previous year. But compared to its growth in the last six years, this was the slowest year yet. The Cupertino-based company had grown 53 percent year-on-year over the period 2015-2016.
In terms of revenue, Apple India has shown an improvement to earn Rs 11,618.7 crore in the FY17 compared to Rs 9,937 crore in the FY16. The report was filed with the Registrar of Companies after The Economic Times.
According to analysts who spoke with ET the pace of
According to Apple, Apple India sold around 2.9 million units in the FY17 compared to 2.2 million units a year ago. A significant portion of the quantities sold is due to the older iPhone models, which receive a price correction after the start of the current generation. This leads to a reduction in the average selling price of iPhones, resulting in revenue growth.
Tarun Pathak of Counterpoint Research said ET that the average retail price of the iPhone in India has fallen by 2 percent. Even older iPhone models account for about 40 percent of total iPhone sales.
In a report in Business Standard Counterpoint Research has estimated that
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