India iPhone sales to fall for first time in four years: researchers

An Apple chief executive said that install base of Android has grown vastly. (File/AFP)
Updated 03 November 2018

India iPhone sales to fall for first time in four years: researchers

  • For the whole of 2018, Apple was set to sell about 2 million phones, a drop of about a million from last year
  • Apple called the company’s problems in India “speed bumps along a very long journey”

BENGALURU: Apple’s iPhone sales are set to dip by around a quarter in India’s holiday season fourth quarter, putting them on course for the first full-year fall in four years, industry research firm Counterpoint said on Saturday.
The Cupertino, California company’s struggle to break through with India’s 1.3 billion consumers swung more sharply into focus this week after Apple blamed a disappointing set of sales forecasts on a handful of big emerging markets.
Chief Executive Tim Cook said after publishing third quarter results that sales were flat in India in the fourth quarter, which includes a month-long festive season culminating this week in Diwali — a bumper period for electronics sales.
Neil Shah, research director at HongKong-based Counterpoint Research, said on Saturday its channel checks pointed to numbers for the quarter in the range of 700,000 to 800,000 units, down from about a million a year ago.
For the whole of 2018, Apple was set to sell about 2 million phones — a drop of about a million from last year, he said, as Indians baulk at high prices for the devices, driven by trade tariffs and a weak rupee.
“Sales are set to drop for the first time in four years,” Shah said. “If you look at Q3 — it was 900k last year and this (year) is almost 450k.
“Iphones have gone costlier and the features and specs aren’t that compelling. The install base of android has grown vastly; the new customer base (for Apple) is not coming.”
Cook on Thursday called the company’s problems in India “speed bumps along a very long journey” and most analysts say that the prestige of Apple’s brand should allow it to claim back lost ground as Indians’ spending power continues to grow.
Shah said that, while more than half the phones sold this year were older iPhone models, high selling prices meant Apple’s Indian revenue should still be flat or slightly higher than a year ago.


Getting more women into leadership positions top priority: CEO

This June 23, 2018 photo, shows a general view of Riyadh, Saudi Arabia. (AP)
Updated 18 January 2020

Getting more women into leadership positions top priority: CEO

  • Saudi Arabia is focusing on the Business 20 (B20), making this one of the key engagement groups. Women in Business will be Saudi Arabia’s signature topic

RIYADH: The boss of one of Saudi Arabia’s biggest banks says that getting more women into leadership positions is a top priority.
Samba CEO Rania Nashar chairs the action council for Women in Business created by the Business Twenty (B20), which is the official G20 dialogue with the business community. It represents the global business community across all G20 member states and all economic sectors.
She said the council was set up to boost women’s particpation not only in business but also in global leadership positions.
During the launch of the B20 in Saudi Arabia this week, Nashar highlighted the under-representation of women in the economy.
“There is a gap of 27 percent between male and female workers; 75 percent of males are part of the labor force while only 48 percent of females are working,” she said.
She said it was important not to just talk about women as workers but as business owners.

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Saudi Arabia will host the 15th G20 Summit in Riyadh on Nov. 21-22, 2020.

“That’s why entrepreneurship is very fundamental to our task force,” she said.  “The majority of the finance development programs have incentives for giving loans to females; however, despite the fact that many large borrowers are females, the amount of loans granted to them is far below what is granted to males,” she added.
Nashar said that two-thirds of female business founders feel that they were not taken seriously by investors when they pitch for investments. They also feel that they are treated differently from their male counterparts.
Saudi Arabia will host the 15th G20 Summit in Riyadh on Nov. 21-22, 2020. The Kingdom is focusing on the Business 20 (B20), making this one of the key engagement groups. Women in Business will be Saudi Arabia’s signature topic.