The decline in sales of Apple in India

The decline in sales of Apple in India

Gadgets, News

Apple is one of the most leading market players in the world and in their respective countries in which it operates it has never failed to perform any operation or anywhere it never leads. But recently according to the figures, Apple India’s revenue and net profit fell for the first time in the year 2019 on the back of slowing iPhone sales. This happened due to the higher import duties because of small local assembling operation. The high import duty paid a lot of ways for the competitors to grow and also had a negative impact on the retailers and the Transporters. The company’s revenue from operation fails up to 90% while profit gained more than 70% according to the latest regulatory filings to the registrar of Companies. Following the Global Trend, the revenue of Apple in India has declined by 19% from the last fiscal year in contrast to its gain of 19% in the year 2018. It is very much understood from this point that the company is taking a conservative approach and the same has an impact on employee benefits expense to which increases by 48% in the year 2019 66 as compared to 66% in the year 2018. Apple iPhone 6 in India last year one of the worst witch shipments declining for the first time according to the market analyst and with Hong Kong-based counterpoint Apple has made an entry into the top 10 smartphone brands in India during the July-September order due to the price cuts on iPhone model along with the good channel demand now the Apple has recently launched iPhone 11 and the sale is expected to rise after the festive season.