Barely a year into its existence, Apple, Inc.'s AAPL online store in India is making waves.
What Happened: Apple's PC shipments in India, excluding tablets, surged by more than 335% year-over-year in the first quarter, the Digitimes reported, citing IDC.
The report also cited data from Canalys that showed a significant increase in Apple's notebook and tablet shipments in India. The increase was primarily due to the opening of Cupertino's online store in India in September 2020, the report said.
Buoyed by the pickup in shipments, Apple took the fifth spot in terms of PC sales in the first quarter. Combined sales of desktops, notebooks, tablets and workstations were at 208,000 in the quarter.
Why It's Important: Emerging markets such as India are where opportunities lie for MNCs such as Apple.
Apple doubled its business year-over-year in India in the fiscal year first quarter ended in December 2020, CEO Tim Cook said on the company's earnings call.
The absolute level of business there is still quite low relative to the size of the opportunity, he said of the India market.
There was good reception to the company's online store in India, and this positively impacted the results it achieved in the country in the quarter, Cook said. The company also said it is planning to set up retail stores in India in the future.
At last check Monday, Apple shares were rising 1.37% to $134.94.
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