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High Growth Trajectory – BW Businessworld

High Growth Trajectory – BW Businessworld

Rank: 12 – Apple India

Tim Cook, CEO

Sector: Handset Manufacturers

Overall, Avg. Score: 2.88

Revenue: Rs 22,845 crore

The India arm of the global tech company and handset maker Apple is confident of scaling new heights.

The company is ranked 12th in this year’s BW Businessworld Most Respected Companies survey, up from the 11th position in the previous year’s rankings, based on its high scores for parameters such as Financial Return, Trusted Leadership and Work Culture. 

Market estimates Apple India to cross Rs 30,000 crore in revenues in the current fiscal on the back of increased sale of its premium Mac portfolio, iPhone and other products. 

For the fiscal year 2020-21, the company is said to have clocked revenues of Rs 22,845 crore, as per media reports. With a reported growth of over 68 per cent in FY21, Apple India is said to have clocked its highest numbers in little under a decade of starting operations. 

Impressive Growth

With higher sales of its premium products, analysts say they won’t be surprised if for FY22 the company reported 35-38 per cent growth in revenue. As per Tim Cook’s announcements, during the first six months of FY2022, Apple India sales have nearly doubled.

Apple India’s premium Mac portfolio may have grown more than 2x in the first six-month period. Between April and September of 2021, Apple India managed to corner over five per cent market share in the local PC market, the IDC reported. Another industry report said Apple India may have sold over five million units of iPhone in the last calendar year. As per market reports, it had sold over 3.2 million iPhones in the previous calendar year. With over 50 per cent jump in sales of its iPhone in India in the first 9 months of 2021, business is looking upbeat. 

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The company is said to have gained market share across product categories. It gained high single and double digit market share across tablets, iPhone, and iPads in 2021 calendar year, said market reports. 

Apple watch was another product that reportedly did well in term of sales. For the third quarter of 2021, every fourth watch sold was an Apple watch. Of course, pandemic did see more demand for electronic products. With newer products getting available in India faster than before, Apple India is set to see happy days ahead. 

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