Tim Cook Reveals Why IPhones Are Not Hot In Indian Markets:- Apple CEO Tim Cook skipped about the sales of iPhones in India during the company's earnings after which he revealed the reasons why iPhones are not hot in Indian markets. He said that the customers are holding their old iPhones for longer time than buying the new ones. "When you pair this with the macroeconomic factors, particularly in emerging markets, it resulted in iPhone revenue that was down 15 per cent from last year," Cook told the analysts. Cook even revealed that the foreign exchange turned out to be a key factor for the slow iPhone sales.
"US Dollar strength turned out Apple products expensive across other markets. Subsidy is the second biggest issue and battery replacement is the third one. With lot of our subscribers given a chance to replace the batteries, most of them are wishing to continue with their old ones instead of updating their iPhones" said Cook in a statement. Cook also said markets like India are crucial for Apple and reminded that the business has been subsequently growing in India. "India continues to be a critical market for Apple as premium segment is likely to grow faster than the overall smartphone market" said Tim Cook.