Apple’s profit in the largest smartphone market has grown several times – Phone Mantra

Apple has shown significant improvement in the Indian market. The Cupertino giant generated 29% more revenue for fiscal 2020 than a year earlier. We are talking about the amount of $ 1.85 billion. Today India, along with China, is considered the largest smartphone market.

Apple profts
Apple profts

The smartphone maker also posted impressive net profit growth of $ 124 million, according to a DeccanHerald report. A year earlier, the company’s net profit in India was $ 35 million.

This confirms the growing popularity of the iPhone in the segment of premium smartphones, in which phones from OnePlus and Samsung also occupy high places. Tim Cook, CEO of Apple, recently said that the company set a record for the September quarter in India, thanks in part to a very strong reaction to the launch of an online store in the country this quarter. In September, the company finally launched its first online store in India, while increasing local iPhone production.

Such results are also explained by the increased demand for electronics due to the transition to remote work in the country in conditions of self-isolation.