Many Android Users Migrated To Apple Inc. iPhones According To CEO Tim Cook


Cook

Apple Inc. (NASDAQ:AAPL) recently released record quarterly numbers, mainly pushed by higher sales of its large screen devices and sales boost in China. Apple CEO Tim Cook noted that less than 15% of iPhone buyers upgraded from older iPhones, while majority of sales was driven by new customers switching from Android smartphones. This statistic bodes well for iPhone device purchases in the current quarter and going forward, as it means more iPhone users could become eligible to upgrade and further boost sales numbers.

Steve Jobs helped Apple to achieve newer heights with his technological innovation and charismatic leadership. Today, the tech giant’s DNA is the same as under its co-founder with Cook proving to be a hugely impressive chief executive. Being logistical genius, Cook scaled Apple’s manufacturing operations, doubling the company’s size. Apple’s design lead, Jonny Ive, is redefining the firm’s hardware and software with his rigorous aesthetic standards.

Apple Inc. (NASDAQ:AAPL) knocks over $183 billion in annual revenue, making it one of the most valuable global enterprises. In its recent earnings release, the tech giant reported 30% YoY increase in its quarterly revenue and 38% increase in its profit to $18 billion. It represents record profit any company has ever achieved in history in a three-month period. Not just that, Apple forecasted to sustain this amazing growth with sales expected to improve further in Chinese market.

More SmartPhones In China Than Any Other Company

The numbers reflect growing acceptance for Apple’s newer bigger iPhones, and that’s particularly true for China. According to research firm Canalys, Apple sold more smartphones than any other company in China during the last quarter. Apple also doubled its smartphone market share to 17% in China from just about 9% in the prior quarter.

Lisa Ray

Lisa Ray primarily covers Retail and Healthcare. Lisa Ray has completed her MBA (Finance) and an avid market tracker. She is a stock market analyst who closely tracks US markets along with other global markets like India. She has been expressing her views for years about markets and also advises various clients.

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