India iPhone sales to fall for first time in four years - researcher

Alicia Cross
November 5, 2018

Apple just made it a little trickier to figure out how well its iPhones are selling. Analysts were looking for $92.7 billion, according to data compiled by Bloomberg.

World's most valuable technology company Apple on Thursday announced the fiscal 2018 fourth quarter results ending September 29. Apple reported that they sold 46.89 million iPhones versus Wall Street consensus expectations of 47.5 million units sold.

"As demonstrated by our financial performance in recent years, the number of units sold in any 90-day period is not necessarily representative of the underlying strength of our business", said Financial Chief Luca Maestri.

Riding on robust growth in Services, App Store purchases and device sales, Apple reported United States dollars 62.9 billion in revenue in its fiscal fourth quarter for 2018, ending with USD 237.1 billion in cash on hand.

Quarterly earnings per diluted share reached $2.91, up 41 per cent. The number fell short of analysts' estimates and was a disappointment, considering there were no big iPhone launches in the same quarter previous year.

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Apple holds around 12 percent of the global smartphone market, with most of the rest sold by makers of Android-powered software.

Apple wants to use the device to promote device upgrades among the already existing iPhone users. With a starting price of US$749, it's expected to be a popular holiday gift, luring owners of older iPhones to upgrade.

Despite record revenue results, Apple shares fell sharply by 7% over the news of the slow growth in iPhone shipments globally including India. It's also the central hub for connecting the other devices and using services.

"Judging by the sales numbers that does seem likely but when your average selling price rises to $793 a unit, due to the launch of higher spec and thus higher priced products, who really cares?" And investors tend to value subscription business through a combination of their revenue growth rate and margins - information that Apple investors will now have, said Tien Tzuo, chief executive of Zuora Inc, a company that helps subscription businesses track their finances. 'Other Products, ' which includes Apple TV and the Apple Watch, was up 31 percent to $4.23 billion. Overall, Apple's revenue jumped 20 percent from $52.5 billion for the last quarter of the financial year 2017 to $62.9 billion for the same period, this year.

Neil Shah, research director at HongKong-based Counterpoint Research, said on Saturday its channel checks pointed to numbers for the quarter in the range of 700,000 to 800,000 units, down from about a million a year ago.

Other reports by Free-Prsite

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