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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Ind vs Aus 1st test day 2: IND 172/0 at stumps, lead by 218 runs in Perth
Perth, Nov 23: Yashasvi Jaiswal combined game awareness with perfect shot selection while KL Rahul remained technically unflappable in an unbroken opening stand of 172 as India looked set to bat Australia out of the match with an overall lead of 218 runs on the second day of the opening Test here.
After skipper Jasprit Bumrah's game-changing 11th five-wicket haul decimated Australia for 104, young Jaiswal (90 batting, 193 balls) and seasoned Rahul (62 batting, 154 balls) decided to grind it out with some old fashioned Test match batting by waiting for the loose deliveries and respecting good fast bowling.
The Indians showed their compact defense by scoring 88 runs in 31 overs during the post-tea session as Jaiswal inched towards a coveted ton on his maiden outing on Australian soil.
With enough time at their disposal and signs of cracks appearing on the surface, this is going to be India's Test match to lose.
The way Rahul wore down the Australian attack was a sight to behold. There was no chatter from the slip cordon and at one point, the stitches of the Kookaburra came out.
The live grass died by the second afternoon and the seam movement also went out of equation making batting easier.
But no one can take away any credit from the two who were hardly troubled except for a mix-up that could have led to Rahul's run-out.
Jaiswal also showed that he had learnt his lessons from the first innings and curbed his urge to drive on the up initially, which was the best part about his batting. Each of his seven fours and two sixes were well-executed shots.
Once he had defended enough deliveries, the Australian pacers didn't have any option but to try either short or full length which he utilised well.
The whip over mid-wicket to hit Starc for one-bounce four and then induce a grin from the pacer by telling him "you are slow", spoke volumes about how fearless the current generation of Indian cricketers is.
In the final session, he flicked him for good measure for a maximum.
Rahul's back-drive off Pat Cummins can easily be called the shot of the match but it was heartening to see Jaiswal put in a big stride forward while driving Mitchell Starc through covers apart from getting under the bounce and playing the ramp shot.
In case of Rahul, he kept a very loose bottom-hand and that helped with the deliveries, even the ones that took the thickish edge only to fall way in front of the slip cordon.
There was a spell of play in the post-tea session when Indians were kept quiet by Nathan Lyon but neither Jaiswal nor Rahul ran out of patience. Jaiswal's half-century came off 123 balls, his slowest in 15 Tests and spoke volumes about his adaptability.
For Rahul, it was about forgetting the unfortunate dismissal on Friday and concentrate, which he did splendidly.
Any target above 300 would be very difficult to chase on this track and Washington Sundar can come into play if those cracks open up, not to forget the three quicks who can use the variable bounce to good effect.
In the morning, India captain Bumrah deservedly got his 11th five-wicket haul while debutant Harshit Rana bowled a fiery opening spell to dismiss the hosts for 104 at the stroke of lunch despite a stiff last-wicket resistance from Mitchell Starc and Josh Hazlewood.
Starc (26 off 113 balls) shielded Hazlewood (7 not out off 31 balls) admirably during their 25-run last-wicket stand that lasted 18 overs.
The day began with Bumrah (5/30 in 18 overs) getting one to rear up from back of the length and Carey's edge carried at a good height to Rishabh Pant behind stumps.
The skipper's celebration was understated as he purposefully strode back to his bowling mark even before Nathan Lyon had arrived. At the other end, the burly Harshit Rana (3/48 in 15.2 overs) carried on from where he had left off on the opening day.
The rookie speedster used more short balls, and one such well-directed delivery accounted for Lyon, who was pouched at gully by KL Rahul.
