Apple `underpenetrated` in India |
The CEO of the US tech giant sounded a bullish tone for the future of Apple in India as the 4G network infrastructure grows in the country. Acknowledging that Apple is “underpenetrated” in India, CEO Tim Cook has said the US tech giant is strengthening its local presence in the country and is optimistic about its future given the fast-growing economy and improving 4G network infrastructure in the country. He said they have set a new March quarter record for India, where revenue grew by strong double digits. They continue to strengthen their local presence across the entire ecosystem, and are very optimistic about their future in this remarkable country with its very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure. He said the iPhone maker is putting a “lot of energy” in India, just like Apple has in other geographies that eventually wound up producing more. Cook emphasised that the 4G network investment began rolling in in a significant way toward the last quarter of last year in India, which is the third largest smartphone market in the world today behind China and the US. Apple has been “investing quite a bit” in India and has a “ton of energy” going into the country on a number of fronts. Apple posted revenue of USD 52.9 billion for its fiscal 2017 second quarter ended April 1, 2017, up from USD 50.6 billion in the year-ago quarter.
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