According to regulatory documents filed by the company, at $137 million Apple’s India unit registered a 140 percent jump in its net profit for the fiscal ended March 2018. For the previous year, Apple India had registered a net profit of $50 million.
During the company’s earnings call in July, Apple CFO Luca Maestri noted that Apple was witnessing great momentum in emerging markets and that it had established new June quarter records for Mac sales in India.
Earlier in the year, CEO Tim Cook, said that the company plans to launch all its initiatives, including retail, in India where it has an extremely low overall market share but offers huge opportunities. Cook also stated that Apple was putting a lot of energy in India and working with the carriers in the market.
Hong Kong-based Counterpoint Research says that Apple currently has a 28 percent share of the premium category of smartphones in India.
