India is the apple of CEO Tim Cook's eye as iPhone sales spike over 50%

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India has become one among the fastest growing markets for Apple, which is looking at increasingly offloading more iPhones in the country to offset the decline in the device’s sales globally.
iPhone sales in India were up by 51% during the nine months that ended June 30, company CEO Tim Cook revealed during an earnings call with analysts and investors. “We're looking forward to opening retail stores in India down the road, and we see huge potential for that vibrant country,” he added.
On the contrary, iPhone sales have fallen for two straight quarters now as the global market for smartphones especially developed markets) becomes saturated. In its third quarter (April-June), Apple reported a 15% drop in iPhone sales from 47.5 million units in the corresponding quarter last year to 40.4 million units.
The iPhone contributes to over 60% of Apple’s earnings, making it the most important device in the company’s lineup.
Read More | Business Standard

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