“Apple reported record Q1 revenue yesterday, warning that Q2 iPhone sales may shrink slightly because global economic and social instability is bad for business,” Jonny Evans writes for Computerworld. “Wall Street responded its usual way and abandoned ship.”
“The truth is that lower disposable incomes in the region means smartphones are often the user’s only computer,” Evans writes. “Smartphone unit sales in India rose 44 per cent in the second quarter of 2015 from a year earlier, said IDC. Not only this, but the Indian economy is expected to grow rapidly this year. However, Apple currently holds only a tiny (c.2%) portion of India’s smartphone sales, but this will change this year.”
“Apple’s rumored plan to launch a 4-inch iPhone 5se will help the company address a wider range of the market,” Evans writes. “‘I see the demographics there also being incredibly great for a consumer brand, and for people that really want the best product,’ Cook said during last night’s fiscal call. ‘We have been putting increasingly more energy in India.'”
Read more in the full article here.