Apple has announced its financial results for Q4 2016, ending September 24. During its investor conference call, Apple CEO Tim Cook said that iPhone sales in India were over 50 percent in fiscal 2016 as compared to the previous year. He also highlighted the company's partnership with Reliance Jio, and emphasised on the teleco's offer of a free year of service to iPhone buyers. Further, Cook noted that the Indian government is investing in a working technical infrastructure enabling consumer access to smartphone technologies like 4G. He also noted that almost half of all Indians are under the age of 25 and the country’s population is expected to grow beyond China in the next decade, but it may take longer for India’s GDP to rival China’s. However, he noted that this might not be a factor in the company’s success.
Apple also revealed that its revenues in Greater China were $8.8 billion, which is a 30 percent decline from $12.5 billion in the same period last year. This is also a 33% dip in revenues from China, seen in the June quarter. Overall, the company posted a quarterly revenue of $46.9 billion, with a quarterly net income of $9 billion. Last year, the company had a revenue of $51.5 billion and net income of $11.1 billion.