New Delhi: Tech giant Apple has crossed the USD 1 billion sales mark in India, first time in the year ended March.
According to the results filed with the Registrar of Companies (RoC), the company posted a 44 per cent increase in sales to Rs 6,472.89 crore from Rs 4500.35 crore. Also the net profit doubled to Rs 242.85 crore from Rs 119.48 crore.
Economic Times reported that the American multinational has more than doubled sales in India in the last two years, all thanks to its change in strategy over the last 4 years.
While the sale of iPhone increased by 35 per cent quarter-on-quarter in the last two years, in fiscal year 2013, it had posted revenue of Rs 3,057.79 crore.
Apple, according to the market tracker Counterpoint Research, is the third-largest brand in the Indian cellphone market after Samsung and Micromax.
The company had in 2011 changed its India strategy by introducing new models closer to their global launch dates. Next year, it had changed its sales model by appointing retail distributors and began advertising campaigns.
