14th June 2024
Apple’s income in India hit practically Rs 50,000 crore in FY23, with gross sales growing 48% to Rs 49,321 crore and internet revenue rising 76% to Rs 2,229 crore.

It’s the quickest progress of internet revenue for Apple in India within the final 5 years, in response to the Financial Occasions, citing info from Apple’s Registrar of Corporations (RoC).

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Based on RoC filings, Apple India generates 94.6% of its income from gross sales of merchandise and 5.4% from upkeep and providers.
Regardless of contributing round 30% of its international gross sales to its providers enterprise, Apple is but to scale up its operations in India, the report talked about.

In the meantime, India noticed cell phones exports price $5.5 billion (over Rs 45,000 crore) within the April-August interval within the ongoing fiscal 12 months (FY24), in response to authorities and trade information.

As per estimates by the Division of Commerce and the India Mobile and Electronics Affiliation (ICEA), accessed by IANS, the April-August interval noticed cell phone exports price $5.5 billion, in opposition to $three billion (about Rs 25,000 crore) in the identical interval in FY22-23.

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Based on trade sources, Apple led the India-made telephone exports within the April-August interval, surpassing greater than 50% of the entire estimated determine for the primary time, adopted by Samsung.Within the June quarter, Apple shipped practically 50% of the nation’s complete 12 million smartphone shipments, as in comparison with Samsung’s 45% export, sources informed IANS.

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