The revenue for Apple Inc. (NASDAQ:AAPL) in India is increasing by leaps and bounds fueled by the sales of the iPhone. The revenue of the company, on year to year basis for fiscal 2012, tripled to around $370 million. The company has adopted some aggressive smartphone sales strategies, and for 2013, the sales are expected to cross $1 billion.
The revenue of the company increased 223 percent from the revenues of fiscal 2011. The profit of the company jumped 431 percent coming in at $57 million. According to analysts, the revenue of the company will be recorded at $1 billion in 2013 as the phone maker is increasing its share in the Indian market.
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According to a report from TimesOfIndia, the numbers do not include the marketing strategies of Apple in India, which comprise of Apple Inc. (NASDAQ:AAPL) providing iPhone buyback incentives and also the price competition with Samsung.
The iPhone maker as its marketing strategy, rolled out a new plan under which the user gets the minimum buyback amount of Rs 7000 for an old smartphone and the iPhone 4 was priced at 26,500. It was mainly done to compete with the likes of Samsung and other rivals.
Apple Inc. (NASDAQ:AAPL) started to expand itself in India by rolling out new models in synchronization with their global launch. The company made some alteration in its sales model, in September 2012, by appointing two retail distributors, advertised blitzkrieg, and launched an EMI scheme for smartphones.
Jessica Kwee, who works as an analyst with Canalys and specializes in mobile phones for the Asia Pacific region, said that Apple is expected to transit over one million iPhone’s, which would be worth $1 billion to India in the fiscal year starting in October and ending in September for Apple Inc. (NASDAQ:AAPL).
“Apple India should generate $1 billion sales between April 2013 and March 2014 as well,” Kwee added.
Apple’s iPhone has been the most sought after devices in India, but tablets and computers from the company have also experienced increased sales due to Apple Inc. (NASDAQ:AAPL)’s Strategy of special pricing of iPad’s and promotional offers for Mac books.
Apple is lately giving importance to Indian markets for its product, unlike in the past when the markets of India were not as relevant for Apple as today.
The new strategy of Apple Inc. (NASDAQ:AAPL) has been to tap the opportunities in the developing markets and garner substantial profit from these markets. Apple Inc. (NASDAQ:AAPL) adopted aggressive strategies for Greater China, which includes China, Taiwan and Hong Kong.