Apple’s results for the II financial quarter, which ended on April 1, exceeded market forecasts. In this way, the technological giant demonstrated stability in the conditions of the global economic slowdown, reports Reuters.
The company was able to achieve this thanks to better-than-expected iPhone sales and a strong push in India and other emerging markets. Apple’s sales in the mentioned period fell by 2.5% to $94.8 billion despite expectations of a 4.4% decline. The company’s earnings remained at $1.52 per share compared to the forecast of $1.43 per share.
iPhone sales increased by 1.5% and reached $51.3 billion. The market had predicted that this indicator would decrease by 3.3%.
Apple CEO Tim Cook explained that the company set a financial record for iPhone sales in the second quarter, thanks in part to attracting new users in markets such as India.
“We were thrilled by our performance in emerging markets,” Cook said. “We set records for the iPhone installed base in every geographic segment, and we had very strong ‘new to’ (sales in) emerging markets, particularly in Brazil, India and Mexico.”
Tim Cook also noted that the company did not have a shortage of materials for any of the products.
It was previously reported that Apple is in talks with component suppliers about possible MacBook production in Thailand. According to Nikkei Asia, the suppliers involved in the negotiations already have established bases in Thailand for other customers.