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.

  People are standing in front of an Apple logo. Reuters

People are standing in front of an Apple logo. Reuters

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 current Treasury will remain slow this year due to low demand for the iPhone 8/8 Plus in India this year . Also, dealers have expressed a disappointing sales scenario for the iPhone 8/8 Plus. The higher demand for the iPhone X models is not yet covered with the offer. However, analysts who spoke with ET said that the sales of the iPhone X models would not be too high for the two variants, thanks to the exorbitant price of 89,000 rupees and 1.02,000 rupees [19659008] The demonetization The Notes Rs 500 and Rs 1000 are another reason analysts cited the slowdown in growth. Apple CEO Tim Cook also said in a conference call with investors that demonetisation in India "still has some overhang."

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 iPhone sales will reach 3.5 million in this fiscal. In the phone sales over the category Rs 30,000 Apple is ahead with 35 percent market share, followed by OnePlus with 32 percent and Samsung with 31 percent. But the Rs 30,000 plus market is only about 3 percent of the total smartphone volume sold in India.

SOURCES: TECHCRUNCH.COM GSMARENA.COM MACRUMORS.COM
WIRED.COM FIRSTPOST.COM ANDROIDCENTRAL.COM

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