Apple Inc. (NASDAQ:AAPL) has been taking a liking to emerging markets like India and China in recent months, vowing to take steps to secure a bigger footprint in those countries with their devices, especially the mobile ones like iPads and iPhones. Apparently there is some information coming out of India that seems to suggest that Cupertino’s investment in the India market is paying off handsomely.
According to a filing with India’s Registrar of Companies, Apple Inc. (NASDAQ:AAPL) in India was not be just growing, but accelerating. In fiscal year 2012, which ended last March, the company reported a revenue increase of nearly 225 percent over FY2011 in the India market, and some analysts are predicting that the FY2013 number may surpass $1 billion, which would be a 250 percent increase over the previous year’s number.
And the bottom line, net profit, is indicating another acceleration, as that numbers is expected to shoot up more than 400 percent over a year ago, to about $58 million.
Most of these numbers, it is noted, seem to come before Apple Inc. (NASDAQ:AAPL) had established an aggressive marketing position in the country over the last six months, which in turn had seemed to come from the decided jump in interest and sales of iDevices in the country. “The huge jump in revenues has made the company realize India’s potential. Apple is now chasing volumes and looking at the numbers game,” said Manasi Yadav of or research firm IDC. It is reported that Apple iPhone shipments have gone up more than 300 percent in the last six months, which in part has generated the positive forecast for the current fiscal year.
With that being said, is Apple Inc. (NASDAQ:AAPL) still a growth company, or is this news in India just a signal of a transitioning tech giant that is looking to develop a more extensive footprint over the long haul?
DISCLOSURE: I own no positions in any stock mentioned.