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Apple posts record quarterly revenue of $75.9 billion; Will launch new 4 inch phone ‘iPhone SE’ in 3rd week of March

Apple posts record quarterly revenue of $75.9 billion; Will launch new 4 inch phone ‘iPhone SE’ in 3rd week of March

Author | Ronald Menezes | Wednesday, Mar 02,2016 8:05 AM

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Apple posts record quarterly revenue of $75.9 billion; Will launch new 4 inch phone ‘iPhone SE’ in 3rd week of March

Apple has announced the financial results for the quarter ended December 26, 2015. The company posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share compared to revenue of $74.6 billion and net income of $18 billion, or $3.06 per diluted share, in the corresponding quarter last fiscal. Gross margin was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

“Our record sales and strong margins drove all-time records for net income and EPS in spite of a very difficult macroeconomic environment,” said Luca Maestri, Apple’s CFO.

Apple will also launch the much awaited 4-inch iPhone SE which stands for ‘Special Edition’. Apple is expected to hold its first public event of the year where they will announce a the iPhone SE, a range of new Apple watches, a 9.7 inch iPad Pro model and other accessories. It is speculated that the launch date would be somewhere in the third week of March with the dates yet to be revealed. Speculations indicate that the dates would be either 21st or 22nd March.

Apple is providing the following guidance for its fiscal 2016 second quarter:

·   revenue between $50 billion and $53 billion

·   gross margin between 39 percent and 39.5 percent

·   operating expenses between $6 billion and $6.1 billion

·   other income/(expense) of $325 million

·   tax rate of 25.5 percent

Apple will also launch the much awaited 4-inch iPhone SE which stands for ‘Special Edition’. Apple is expected to hold its first public event of the year where they will announce a the iPhone SE, a range of new Apple watches, a 9.7 inch iPad Pro model and other accessories. It is speculated that the launch date would be somewhere in the third week of March with the dates yet to be revealed.

The iPhone SE is rumoured to have a similar design as iPhone 5S with a slightly curved front glass panel, 8MP camera, A9 processor, Apple Pay and Live Photos to its features.

With so much happening in Apple over the last few weeks and speculations making the wait feel even longer, it is worth taking a look at what Apple is up to in India in the 2016 and what it may look like.

India plans:

India has recently outnumbered the US as the second-largest market for smartphones in the world. Currently there are 220 million users of smartphones and the numbers are nothing but increasing by the day.

Apple has withdrawn its iPhone 4S and iPhone 5C models from the shelves of Indian market with the models facing a stiff competition from other android phones in the same price category. The iPhone was sold at Rs 12,000 and the iPhone 5C at Rs 22,000

Road ahead:

Apple Inc has reportedly applied for import and sale of refurbished iPhones in India. It also plans to set up a facility in the country to refurbish used phones from China. The company is reportedly planning to set up a development centre in Hyderabad by July this year and the iPhone manufacturer plans to occupy a 2,50,000 square feet of office space in the city

Apple may well be en route to open its exclusive retail stores in India. In January this year, it confirmed it had applied to open stores across the country.

Moreover, Apple supplier Delta India plans to develop smart energy management solutions at its new R&D centre which is expected to create up to 500 engineering jobs within the next 3 years. Within the next 10 years, Delta’s new factory in Hosur will create up to 20,000 jobs for the manufacturing of power electronics, renewable energy and automation solutions.

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