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Apple India saw its profits grow by 2.2 times, as its turnover grew and its expenses remained stable. In contrast, most rival smartphone manufacturers in India are struggling to make money.
Apple India Private Ltd announced a net profit of 8.96.3 billion rupees for the fiscal year 2018 closed the month of March, up 3.73.3 million rupees the year former. The documents filed by the Cupertino-based iPhone maker with the Registrar of Companies (RoC) show that the Indian subsidiary generated a turnover of 13,097.6 million rupees for the fiscal year 2014, up 12% from 11,704.3 billion rupees that she reported during fiscal 2017.
The main activities of its Indian subsidiary, according to the documents filed, are: software "and" services related to marketing and the maintenance of Apple's products and software. "The first accounts for almost the entire business turnover of the company (96.22%).
Expenses for the Indian subsidiary of Apple n & # 39, increased only marginally to reach Rs 11,740.7 crores during the 2018 financial year, compared to 11 093.4 crores of rupees during the 2017 fiscal year.
inexpensive models (the iPhone SE and the iPhone 6S) at the Wistron site in Bengaluru. But with limited domestic demand for its high-end phones, the company has resisted pressure from the government to transfer more manufactured products from China to India.
Sales of its services such as the AppStore, Apple Music and iCloud have also increased.
A recent report from Counterpoint Research indicates that Chinese handset maker Xiaomi dominated smartphone shipments in India in the third quarter of this year in India, considered the world's third largest smartphone market.
Out of the FAANG (1965) Facebook, Amazon, Apple, Netflix and Google companies), only Google, Facebook and Apple are earning money in the Indian market. Google India has recorded a turnover of Rs 9,337.7 crores for the 2018 financial year, compared with Rs 7,239.5 crores for FY 2017. Its net profit also increased for to reach 407.2 crore rupees, against 306.6 crores for the previous year.
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