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Tags Current Affairs

Apple’s growth story amidst the pandemic

Date: 02 August 2020 Tags: Industries

Issue

Apple has announced its Q3 results for 2020, recording an 11 percent growth compared to the same period last year. Also, it is the only big smartphone brand to have recorded growth in the quarter.

 

Background

The results are surprising, coming as it is in the middle of a pandemic. This also shows that consumer demand can be initiated with a suitable plan.

 

Details

  • Apple’s growth can be attributed primarily to its launch of the iPhone SE even as most of its markets were in the middle of a pandemic-induced lockdown.

  • Apple’s cheapest iPhone became available just as China, one of its largest markets, was emerging out of the lockdown.

  • The more affordable price tag, along with pent up demand generated by the need to have a good connected device for work, made the phone a runaway success in China.

  • The analysis says trade-in deals and other offers too helped Apple rake in the volumes. As a result, Apple’s China market share grew 35 percent.

  • Apple usually does not have a new iPhone for Q3. So the iPhone SE has clearly helped in showing better numbers for the quarter in comparison to the last year.

  • The phone could also help it show good numbers in the coming quarter with markets like India going into the festival season along with big online sales.

  • The new work from home situation across the world also seems to have helped Apple’s services business, which grew across all geographies. Apple Music, video, and cloud services area all seeing a spike, along with Apple News and Apple TV+. 

  • Work from home is also helping Apple sell more Macs and iPads across the world, especially in markets like China. The renewed emphasis on online classes could also push this segment.

  • However, there is some rough weather ahead as Apple has announced that its iPhone flagship, usually announced in September, could be delayed this year.

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