Apple iPhone sales fall for third consecutive quarter; sales in India grow over 50 percent

Apple announced its financial results for Q4 2016, that ended September 24. The Cupertino giant reported revenues of $46.9 billion and a quarterly net income of $9 billion. The company shipped 45.5 million, iPhones, 9.3 million iPads and 4.9 million Macs this quarter.

Apple's annual revenue were down 9 percent from $233.7 billion in FY 2015 to $217 billion in FY 2016, for the first time since 2001. iPhone sales were down five percent compared year ago, for the third consecutive quarter, but Apple CEO Tim Cook during the earnings call said that iPhone sales were up YoY in 33 of Apple's top 40 markets.

Despite decline in sales for third consecutive quarter, iPhone sales growth remained strong in many markets including Canada, Latin America, Western Europe, Central and Eastern Europe, Middle East, India and South Asia.

As far as Indian market is concerned, iPhone sales were higher by 50 percent this fiscal year, compared to prior year. On the earnings call, Cook said “Our iPhone sales in India were up over 50 percent in fiscal 2016 compared to the prior year, and we believe we’re just beginning to scratch the surface of this large and growing market opportunity.”

Back in July, Apple had announced that iPhone sale in Q2 of 2016 in India had grown 56 percent, when compared to the prior quarter.

Cook also highlighted Apple's partnership with Reliance Jio in India, which is bundling the iPhone 7 and iPhone 7 Plus with additional free services for one year, post exhaustion of Jio's Welcome Offer. 

“Looking ahead, we’re seeing some very exciting development in India. Reliance Jio is rolling out a first-of-its-kind all-IP network in India with 4G coverage in 18,000 cities and 2,00,000 villages across the country. They’re offering a free year of service to purchasers of new iPhone’s and we’re partnering with them to ensure great iPhone performance on their network,” he added further.

For the next quarter, which is FY Q1 2017, Apple expects revenue between $76 billion and $78 billion compared to 75.9 billion earning in a same quarter last year. 

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Kaiser Bey

Kaiser is a tech enthusiast who likes to write, read and talk about tech. He dreams of going to Mars and never come back. We hope that you find his posts on AndroGuider helpful and informative