Apple Crosses $1-B Sales Mark In India In FY15
The company posted a 44 per cent increase in sales to Rs 6,472.89 crore from Rs 4500.35 crore and net profit doubled to Rs 242.85 crore from Rs 119.48 crore as the tech giant widened its retail network and stepped up marketing with lucrative offers to the customers.
Analysts credited the increase in demand for iPhones to growth in sales upwards to 35 per cent quarter-on-quarter in the last two years as it has more than doubled sales in India in the last two years.
four years earlier, the tech gaint stretched the India team and started unveiling new models closer to their global launch dates.
Ealier in 2012, the company changed its sales model by appointing retail distributors and began advertising campaigns. Since then sales have been rising at double-digit pace.
According to market tracker Counterpoint Research, Apple is the third-largest brand in the Indian smartphone market after market leaders Samsung and domestic brand Micromax.