Apple CEO 'very bullish' on India; confident of opening more stores in Indian market
New York, Nov 2: Apple CEO Tim Cook voiced optimism that the Indian government will at some point agree to allow the technology giant to bring in its stores as he lauded the country's bold reforms, saying he is a "big believer" and "very bullish" on India.
Cook was responding to a question on whether Apple is at a disadvantage in India, as compared to other markets, in terms of ability to own stores and manufacture its products.
We've had really great productive discussions with the Indian government and I fully expect that at some point, they will agree to allow us to bring our stores into the country. We've been in discussions with them and the discussions are going quite well," Cook said during the fourth quarter 2018 earnings call Thursday.
Cook said that in India there are import duties in some or most of the product categories that Apple is in and in some cases they compound.
"This is an area that we're giving lots of feedback on. We do manufacture some of the entry iPhones in India and that project has gone well. I am a big believer in India. I am very bullish on the country and the people and our ability to do well there," he said.
Cook said that despite the challenges, including currency weakness, he was very optimistic about his company's future growth in the Indian market.
With the rupee touching 74 to a dollar, Cook said the currency weakness has been part of Apple's challenge in India, "as you can tell from just looking at the currency trends, but I sort of view these as speed bumps along a very long journey though, and the long term is, I think is very, very strong there (India).
"There's a huge number of people that will move into the middle class. The government has really focused on reform in a major way and made some very bold moves and I applaud them for doing that, and sort of can't wait for the future there," he said.
On some deceleration in key emerging markets, Cook said the emerging markets that Apple is seeing pressure in are Turkey, India, Brazil, Russia.
"These are markets where currencies have weakened over the recent period. In some cases, that resulted in us raising prices and those markets are not growing the way we would like to see," he said.
Cook said Apple's business in India in Q4 was flat.
"Obviously, we would like to see that be a huge growth. Brazil was down somewhat compared to the previous year. And so I think, or at least the way that I see these, is each one of the emerging markets has a bit of a different story, and I don't see it as some sort of issue that is common between those for the most part," he said.
The company said it saw great response to the new MacBook Pro models launched in July, with strong double digit revenue growth driving an all time quarterly record for Mac revenue.
We were especially pleased with Mac momentum in emerging markets with strong growth in Latin America, in India, the Middle East and Africa, and Central and Eastern Europe, Apple's Chief Financial Officer Luca Maestri said.
Apple sold 9.7 million iPads during the quarter, gaining share in nearly every market it tracked. However, on a year-to-year basis, there was a six per cent decrease in the number of iPads sold, from 10.3 million in Q4, 2017.
"We generated iPad growth in a number of key regions around the world, including Latin America, Europe, Japan, India and South Asia. Among customers around the world purchasing iPads during the quarter, nearly half were new to iPad, and our active installed base of iPads reached a new all-time high," Maestri said.
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Skipper Curran, bowlers lead PBKS to a five-wicket win over RR
Guwahati, May 15: Skipper Sam Curran played the lead act hitting a well-paced fifty and taking two wickets, as Punjab Kings consigned Rajasthan Royals to a five-wicket defeat in their IPL match here on Wednesday.
The target was a mere 145, but Kings made heavy weather of it on a sluggish track here but Curran (63 not out, 41b, 5x4, 3x6) had a calm head and skills to lift them to their fifth win of the season. PBKS made 145/5 in 18.5 overs.
The Englishman received good support from Jitesh Sharma (22, 20b) as the pair added 63 runs in a fluent fifth wicket partnership.
For Royals, it was their fourth defeat on the trot, but they remained second on the table with 16 points with a qualification to the playoffs to boot with.
The Kings’ chase began on a shaky note as they lost Prabhsimran Singh in the first over itself to Trent Boult.
But bigger jolts were in store as an impressive Avesh Khan (2/28) scalped two wickets in the fifth over.
The right-arm pacer first plucked the important wicket of Rilee Rossouw, who played some strong shots in his 13-ball 22, and then jettisoned in-form Shashank Singh for a two-ball naught.
Shashank failed to connect a fuller, straighter one from Avesh while attempting a flick, and the 141 kmph delivery thudded on his bat. Shashank did not even bother to use DRS as he walked away.
Punjab gained some ground through the alliance between Curran and Jitesh, who smoked R Ashwin for two sixes.
Curran too gave a dose of punishment to the veteran offie, lofting him for a wonderful six over extra cover.
But the blossoming stand was snapped by Yuzvendra Chahal (2/31), leaving PBKS at 111 for five in the 16th over.
However, Curran and Ashutosh Sharma (17 not out, 11 balls) knocked off the remaining runs without further drama.
Earlier, despite a well-tuned 48 from local hero Riyan Parag, RR struggled against an array of accurate bowlers on a rather slow pitch, meandering to a sub-par 144 for nine.
R Ashwin (28, 19b, 3x4, 1x6) and Parag (48, 34, 6x4) tried to accelerate during their 50-run stand for the fourth wicket but it could only bring in a temporary momentum for RR.
In fact, lethargy had set in very early in the Rajasthan innings after the early loss of Jaiswal, who chopped a Curran (2/24) delivery back on to his stumps.
Sanju Samson (18), who went past 500-run in a season for the first time in his IPL career, and Tom-Kohler Cadmore (18, 23b) stitched 36 runs for the second wicket but took six overs for it.
But with Curran and Arshdeep finding a hint of swing and maintaining a good line, scoring was not an easy proposition for the RR batters.
Eventually, Samson, who tried a hopping cut off pacer Nathan Ellis, gave a simple catch to Rahul Chahar at point in the seventh over.
Cadmore too returned to the dugout in the next over, as his almighty heave off leg-spinner Chahar (2/26) could not progress beyond Jitesh in the deep.
Those twin dismissals actually paved the way for the best phase in the Royals’ innings as Ashwin and Parag pressed their foot on the right pedal.
Ashwin displayed his batting skills, smashing Chahar for 17 runs in the 12th over that included a sequence of 6, 4, 4 and the first four was a stunning reverse scoop over backward point.
But he could not further extend his innings, lofting Arshdeep to Shashank.
Parag, usually a free-flowing batter, had to curb his flair in front of a hugely adoring home crowd because of the regular fall of wickets at the other end.
But a late cut off Curran that sped to third man stood as a testament of his ability and timing as he also moved past the 500-run mark for the season, before getting trapped in front of the wicket by Harshal Patel.
However, apart from conquering those little peaks the RR batters failed to slip into the top gear consistently.
