Apple India revenue soars 54% at Rs 9,997 cr in FY16


Apple India, a wholly owned subsidiary of Apple Operations International, registered a 21% increase in its net profit at R294 crore in FY16, according to data available on Tofler. During the period, the company’s revenue increased 54% at R9,997 crore. Apple India did not respond to an email seeking responses to its earnings in India.

Apple does not report its India numbers but according to market research firm Counterpoint, in FY16, it sold over 2.5 million iPhones. Nearly 80% of its revenues, that is R7,960 crore from the sale of its products including iPad, iPod Touch, iPhone and Apple Watch, while the reamining – R1,977 crore, came from the sale non-iOS products including Apple TV, iPod three other variant – shuffle, classic, nano, displays, computers, all other accessories, and services.

According to data available on Tofler, employee benefit expenses rose 25% at R85 crore in FY16, while spend on advertising nearly doubled to R140 crore.

According to the latest report called Market monitor service, by market research firm Counterpoint smartphone shipments in India grew by 18% in CY 2016 compared to the global smartphone market which grew only 3%. In Q4 CY16, there were some significant changes in smartphone rankings with Chinese brands contributing to 46% of the total smartphone market.