Written by 6:30 pm Technology Views: 3

HOW DID APPLE BECOME THE 75TH BIGGEST COMPANY IN INDIA?

Let’s face it guys – either you love Apple or envy it, but you cannot deny the fact that Apple as a company is a money-printing machine – I mean the company is sitting on a massive cash balance of more than $200 billion – to give you the perspective of just how big the amount of $200 billion is, it’s more than the nominal GDP of 138 countries. Quarter after quarter, year after year, Apple continues to post astronomical sales figures. During the latest quarterly earnings call, Apple CEO Tim Cook said the company has doubled its business in India in the last year – he is very happy, I mean look at that smile.

The company has seen a massive demand for Apple products in India. The company created a special place for itself in the Indian market. According to the latest research from the market intelligence firm Counterpoint technologies, Apple has a market share of 5% in India. Due to its higher pricing than the competitors, Apple owns a smaller market share than its competitors in India. However, with a smaller market share of 5%, Apple India has generated a revenue of ₹22,845 crores last year. The revenue numbers of the company grew by 66% from the year before. In Financial Year 2020, Apple has recorded a revenue of ₹13,755 crores in India.

With revenue of ₹22,845 crores, Apple India is now the 75th biggest company in India by revenue. Only 74 companies in India have a revenue higher than Apple India. Pharma majors like Cipla, Cadila Healthcare, Lupin have lower revenue than Apple India. Other top companies like TVS Motors, Ashok Leyland, Tata Steel BSL, Titan and MRF have revenue lower than Apple India. With a meagre 5% market share, Apple has built a very successful business in India. The company has acquired the lion’s share in India’s niche market of premium and ultra-premium smartphones. It also proves the fact that Indian don’t mind paying a higher price for quality products. With the economy coming back to track and an increase in income, analysts are expecting Apple India will continue to grow at an astronomical pace. By next year, we may see Apple India among the top 50 companies by revenue in India. Apple India is giving astronomical sales with a niche market which has created a significant finance pool for a company which is already mind-bogglingly rich in terms of cash. Not even the world’s biggest economy and the most powerful nation which is also the home of Apple, the US does not have the kind of cash that Apple is sitting on. All in all you can be certain that Apple has long and bright future which means it will continue being the money-printing machine that it has turned into.

 

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Last modified: December 19, 2021

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