Apple Inc. (NASDAQ:AAPL) may have experienced subpar iPhone sales in the recent quarter but the company says that there is a lot of potential growth for the iPhone. As per Apple CEO, more people are leaving Android for the iPhone than compared to the past. This seems logical as the iPhone 6 and iPhone 6 plus has larger screens than Apple’s earlier iPhones.
This is good news for Apple and not simply because more people are purchasing iPhones. Certain analysts were concerned that there was no room left for the iPhone to grow as the iPhone 6 had done very well. The less than expected sales of iPhone did little to alleviate that concern.
The fact that people are moving from Android to the iPhone at a higher rate shows that the iPhone is continuing to grow. Cook referred to the different strategies Apple uses to increase the iPhone’s market share. In some areas, it’s persuading people to switch from Android to the iPhone. In others, it’s pushing first-time smartphone buyers to select the iPhone. In some other markets, it is pushing current customers to continue with the iPhone when they upgrade.
Apple Inc.’s quarterly profit increased by 38% backed by strong demand for the organization’s latest iPhones and solid growth in China where there has been a two-fold increase in sale.
On Tuesday, the company reported that it sold 47.4 million iPhones in the three months ending on June 27. This is a rise of around 35% from the year ago period and more than double the count from four years ago.
Tim Cook stated in a Wall Street Journal’s interview that the gap between Apple and its competitors is widening. He observed that the organization had the highest rate of switchers from Android phones ever in this quarter. The iPhone also has boosted Apple’s earnings to record levels and dominates the rest of its businesses.
Sources: marketwatch, businessinsider
