A new report says Apple iPhone has helped the company triple its year-to-year revenue in India for fiscal 2012. The company brought in $370 million last year in the country, and their new aggressive smartphone sales tactics could see that number jump to over $1 billion for 2013.
The revenue bump represents a 223 percent increase from fiscal 2011, with profits jumping 431 percent to reach over $57 million over the same period, reports The Times of India (via TUAW). Analysts are now predicting strong iPhone sales will carry the already booming revenues to grow to $1 billion in 2013 as Apple further taps India’s burgeoning smartphone market.
While Apple doesn’t disclose specific financials for their India business unit, the company is required to file with the country’s Registrar of Companies, which was cited in the report.
The above figures do not take into account Apple’s recent marketing push in India, which includes recent iPhone buyback incentives that sparked a massive jump in sales.
Canalys analyst Jessica Kwee, who specializes in mobile phones for the Asia-Pacific region, expects Apple to ship over one million iPhones worth some $1 billion to India during the company’s fiscal year, which started in October and will end in September.
“Apple India should generate $1 billion sales between April 2013 and March 2014 as well,” Kwee added.
Apple’s tablet and computer sales have also seen moderate gains in the India market thanks to special pricing on iPads, and promotional offers on Macs.
While Apple hadn’t paid much attention to India’s market in the past, market pushes there, and in other developing markets have seen incredible growth for the Cupertino company,
