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Apple Cuts Revenue Guidance for Q1 2019, Citing Slowdowns in China and iPhone Sales

Apple cut its revenue outlook for the latest quarter Wednesday, citing steeper-than-expected “economic deceleration” in China and emerging markets. The rare revenue warnings from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing. Apple shares slid some 7.6 percent in after-hours trade on the news.…

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Apple Cuts Revenue Guidance for Q1 2019, Citing Slowdowns in China and iPhone Sales

Apple cut its revenue outlook for the latest quarter Wednesday, citing steeper-than-expected “economic deceleration” in China and emerging markets.

The rare revenue warnings from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing.

Apple shares slid some 7.6 percent in after-hours trade on the news.

The company slashed its revenue guidance for the first fiscal quarter of 2019, ended December 29, to $84 billion (roughly Rs. 5,90,000 crores) – sharply lower than analyst forecasts averaging $91 billion (roughly Rs. 6,40,000 crores).

“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Apple chief executive Tim Cook said in a letter to investors.

“We believe the economic environment in China has been further impacted by rising trade tensions with the United States.”

Apple is the target of nationalist sentiment over the arrest of Huawei’s chief financial officer in Canada at the behest of the United States on alleged Iran sanctions violations.

Meng Wanzhou was detained in Canada on December 1 on a US extradition request linked to sanctions-breaking business dealings with Iran.

The Chinese government has condemned the arrest and demanded her release.

Some Chinese netizens and companies have also turned against Apple.

Several companies have offered employees subsidies for Huawei phone purchases, while others have even warned staff against buying Apple products. 

“When the US went after the Huawei founder’s daughter, the Chinese government made Apple the target of the day, so sales should be way off,” independent technology analyst Rob Enderle told AFP.

“This is more political than it is Apple execution.”

Nationalistic sentiment was likely intensified by Apple apparently ignoring a Chinese court-ordered ban on iPhone sales in a case involving US chipmaker Qualcomm, according to the analyst.

Qualcomm, which requested the ban, said last month that the Fuzhou Intermediate People’s Court ordered four Apple subsidiaries to stop selling older models of the iPhone, including the 7, 7 Plus, 8, and 8 Plus.

But Apple stores contacted by AFP in Beijing, Shanghai and Fuzhou in early December said they were still selling those older models – confirming a company statement that all remain available.

“It looks like Apple is flouting Chinese law, which helps promote a boycott,” Endlerle said.

Timing off
Apple breaks down its revenues into a “Greater China” that includes the People’s Republic of China as well as Taiwan.

Cook said other factors will also pull down Apple’s revenue, including the timing of its iPhone launches last year and a strong dollar that means lower revenues when converted to US currency.

Apple also cited supply “constraints” for some products, including its latest Apple Watch and iPad Pro.

The update suggested a disappointing figure for iPhone sales, the key driver of revenue and profit for the California tech giant.

“While Greater China and other emerging markets accounted for the vast majority of the year-over-year iPhone revenue decline, in some developed markets, iPhone upgrades also were not as strong as we thought they would be,” the statement said.

“While macroeconomic challenges in some markets were a key contributor to this trend, we believe there are other factors broadly impacting our iPhone performance, including consumers adapting to a world with fewer carrier subsidies, US dollar strength-related price increases and some customers taking advantage of significantly reduced pricing for iPhone battery replacements.”

Apple has been seeking to diversify its revenue stream in the face of a largely saturated global smartphone market, with new products and services.

Cook said there were some bright spots for Apple in some parts of the world and that the company expects “all-time revenue records in several developed countries, including the United States, Canada, Germany, Italy, Spain, the Netherlands and (South) Korea.”

He added that Apple was performing well in a few emerging markets and could see record revenues in Malaysia, Mexico, Poland and Vietnam.

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Apple Sets a Quarterly Record in India, Working ‘Really Hard’ to Solve Supply Constraints: CEO Tim Cook

Apple has set a new quarterly record in India for its September quarter, Chief Executive Officer Tim Cook announced during an earnings call on Thursday. The 59-year-old executive did not reveal any exact revenues for the Indian market, though he considered the launch of Apple’s online store in the country as a part of the…

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Apple Sets a Quarterly Record in India, Working ‘Really Hard’ to Solve Supply Constraints: CEO Tim Cook

Apple has set a new quarterly record in India for its September quarter, Chief Executive Officer Tim Cook announced during an earnings call on Thursday. The 59-year-old executive did not reveal any exact revenues for the Indian market, though he considered the launch of Apple’s online store in the country as a part of the latest success. The new record comes amid the drop in the iPhone sales globally by 20 percent. Cook also underlined supply constraints impacting the iPhone, iPad, Apple Watch, and Mac lineups.Tim Cook said that there had been a “very strong reception” to the launch of Apple’s online store in the country that went live last month. The company brought facilities including direct customer support and trade-in options to attract consumers. The online store also initially offered bank discounts and even hosted a special Diwali offer to gain popularity in the market where Amazon and Flipkart are largely dominating e-commerce operations.Apple did not provide any specific numbers to highlight its record success in India. However, its net sales from the Asia Pacific region, excluding China, saw a growth of over 10 percent year-over-year.According to a recent report by market analyst firm Canalys, Apple saw a double-digit growth in India in the third quarter this year, with the shipments of nearly 800,000 units.“Apple is finally paying attention to India,” said Canalys Research Director Rushabh Doshi. “It has opened a direct online store, giving it several new angles in its go-to-market strategy, such as utilising device trade-ins to provide purchase incentives, or bundling AirPods with iPhones to make them more appealing.”Earlier this week, research firm Counterpoint Research stated in a report that Apple led the over Rs. 30,000 market in India, thanks to the strong growth of the iPhone SE (2020) and iPhone 11. These two are the models that are helping Apple gain significant revenues from the country, according to market experts.That said, Apple’s latest record doesn’t include the performance of the iPhone 12 series that just went on sale in India — alongside various global markets.The latest results show that the iPhone sales dropped globally due to the delay in the launch of its new models. Apple Chief Financial Officer Luca Maestri, however, noted on the earnings call that demand for the iPhone remained “very strong” and customers demand for the existing product lineup “grew double digits” through mid-September.Apple’s total revenue grew to $64.7 billion (roughly Rs. 4,80,510 crores) in the September quarter, as per the quarterly results. That brought a seven percent dip in its profit to $12.7 billion (roughly Rs. 94,319 crores).During the earnings call, Cook also talked about the supply constraints affecting the iPhone, iPad, Apple, and Mac product lines. He said that Apple was working “really, really hard to remedy” the ongoing issues.“If you look at iPhone, we’re constrained today,” he said while answering a question on the supply chain. “That’s not a surprise at the front end of the ramp, and how long we’ll be constrained is hard to predict.”Apple has seen supply issues with the iPad and Mac lineups for quite some time this year supposedly due to heavy demand from people adopting remote learning and work from home culture due to the pandemic. It also upgraded its existing models with the new iPad and Mac machines that put additional weight on the supply chain, which also initially affected owing to COVID-19.Are iPhone 12 mini, HomePod mini the Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

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iOS 14.1, iPadOS 14.1 Released With 10-Bit HDR Video Playback, Edit Support for Earlier Models

Apple has released iOS 14.1 and iPadOS 14.1 as the latest improvement-focussed updates for compatible iPhone and iPad models. The new updates come less than a month after the company rolled out iOS 14.0.1 and iPadOS 14.0.1 as the early bug fix releases post the debut of iOS 14 and iPadOS 14. Alongside various improvements…

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iOS 14.1, iPadOS 14.1 Released With 10-Bit HDR Video Playback, Edit Support for Earlier Models

Apple has released iOS 14.1 and iPadOS 14.1 as the latest improvement-focussed updates for compatible iPhone and iPad models. The new updates come less than a month after the company rolled out iOS 14.0.1 and iPadOS 14.0.1 as the early bug fix releases post the debut of iOS 14 and iPadOS 14. Alongside various improvements and bug fixes, the iOS 14.1 and iPadOS 14.1 bring 10-bit HDR video playback and edit support to existing iPhone and iPad models.What’s new in iOS 14.1As per the changelog provided by Apple, iOS 14.1 adds support for 10-bit HDR video playback and editing in the Photos app for the iPhone 8 and later models. It makes sense as the iPhone 12 series brings 10-bit HDR video recording and while enabling the same experience isn’t possible probably due to hardware limitations, existing iPhone users will now be able to watch and edit videos they receive from the latest iPhone models.Aside from the newly added 10-bit HDR video support, the update fixes the problem that was causing some widgets, folders, and icons to appear in reduced size on the home screen. It also addresses the issue where dragging widgets on the home screen could remove apps from folders. The update also fixes the issues where emails in Mail were sent from an incorrect alias and incoming calls were prevented from displaying region information.iOS 14.1 brings a list of improvements and bug fixes The iOS 14.1 update also brings a fix for the issue that was resulting in the lock screen emerging call button to overlap with the text input box when zoomed display mode was enabled alongside an alphanumeric passcode. Similarly, the update fixes the Calculator app for the issue that could prevent zeros from appearing on the screen. There is also a fix for the issue that was restricting users to download or add songs to their library while viewing an album or playlist.Apple has also resolved an issue that was temporarily reducing streaming video resolution at the start of playback. The update also addresses an issue in the Files app that could cause some MDM-managed cloud service providers to incorrectly display content as unavailable. Additionally, there are improvements towards Ubiquiti wireless access points’ compatibility.The latest iOS update also fixes a couple of problems related to the Apple Watch. In one case, some users were prevented from setting up a family member’s Apple Watch, while in the other one, the Apple Watch case material was displayed incorrectly in the Apple Watch app.That said, the iOS 14.1 update doesn’t address the known battery drain issue that was introduced with the release of iOS 14. Apple even acknowledged the issue publicly and provided a workaround — which was to restore your iPhone after completely erasing all its content stored.The release of iOS 14.1 comes just ahead of the iPhone 12 and iPhone 12 Pro sale that is beginning in the US and other key markets from Friday, October 23. The new iPhone models are debuting in India on October 30, though. Apple is likely to ship the iPhone 12 series with iOS 14.1 out-of-the-box.What’s new in iPadOS 14.1Just like the iOS 14.1 update, iPadOS 14.1 also includes fixes for the issues related to widgets, folders, and icons on the home screen, Mail app, music library, video playback, and the Files app. It also brings 10-bit HDR video playback and editing support to the Photos app for the iPad Pro 12.9-inch (2nd generation) and later, iPad Pro 11‑inch, iPad Pro 10.5-inch, iPad Air (3rd generation) and later, and the iPad mini (5th generation). Moreover, the iPadOS 14.1 update comes on the heels of the iPad Air (2020) availability that is set alongside the iPhone 12 and iPhone 12 Pro sale. The new iPad Air is expected to ship running the latest iPadOS update.How to download iOS 14.1, iPadOS 14.1To download iOS 14.1 on your iPhone or iPod touch or iPadOS 14.1 on your iPad, make sure the device has a sufficient amount of battery and is connected to a Wi-Fi network. You can then begin the download process by going to Settings > General > Software Update. Moreover, the updates are available for all iPhone, iPod touch, and iPad models that are compatible with iOS 14 or iPadOS 14.Are iPhone 12 mini, HomePod mini the Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

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Flipkart Big Billion Days Sale: Samsung Galaxy S20+, Galaxy Note 10+, Galaxy F41, More Receive Price Discounts

Samsung Galaxy S20+, Galaxy Note 10+, Galaxy Tab A 8.0, and Galaxy Watch are available on discounted prices under Flipkart’s Big Billion Days sale. The sale is currently live for Flipkart Plus members. Flipkart is also set to offer a Rs. 1,000 prepaid discount along with a 10 percent instant discount for SBI customers purchasing…

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Flipkart Big Billion Days Sale: Samsung Galaxy S20+, Galaxy Note 10+, Galaxy F41, More Receive Price Discounts

Samsung Galaxy S20+, Galaxy Note 10+, Galaxy Tab A 8.0, and Galaxy Watch are available on discounted prices under Flipkart’s Big Billion Days sale. The sale is currently live for Flipkart Plus members. Flipkart is also set to offer a Rs. 1,000 prepaid discount along with a 10 percent instant discount for SBI customers purchasing the newly launched Galaxy F41. Separately, Samsung is hosting a festive season sale through its online store in India to offer deals and discounts on various accessories, wearables, and smart TVs.Discounts on Samsung phonesFlipkart is offering the Samsung Galaxy S20+ at a discounted price of Rs. 49,999 as a part of its Big Billion Days sale. It’s a discount of Rs. 28,000 on its current price of Rs. 77,999. If you’re looking for a Galaxy Note model, Flipkart also has the Samsung Galaxy Note 10+ at Rs. 54,999, down from its retail price of Rs. 85,000.Flipkart will also sell the Samsung Galaxy F41 during the sale. As mentioned, customers will get an additional Rs. 1,000 discount on prepaid transactions and SBI customers can avail another 10 percent discount on it.Discounts on Samsung Galaxy Watch and Tablet A 8.0In addition to smartphones, Flipkart’s sale brings the Samsung Galaxy Tab A 8.0 Wi-Fi only at Rs. 8,999 that normally retails at Rs. 9,999. Customers can also pick the Samsung Galaxy Watch 46mm Bluetooth variant at Rs. 11,990 — a discount of Rs. 8,000 on the current price of Rs. 19,990.Flipkart also has a Smart Upgrade Plan that lets customers purchase Samsung premium phones by paying 70 percent of their price. After a 12-month period, they will have the option to either upgrade to a new phone via Flipkart and return the initial phone purchased, or pay the 30 percent balance.The Flipkart Big Billion Days sale is currently live only for Flipkart Plus members. However, it will be available for regular customers starting Friday and will go on until October 21.Samsung is also hosting the festive sale through its online store in India that brings up to 40 percent discount on the Galaxy S20+, up to 60 percent discount on wireless chargers and JBL speakers, and up to 45 percent discount on various smart TVs including The Frame. There will also be up to 12.5 percent cashback for HDFC, ICICI, and SBI bank customers.The Samsung sale is live and will go on till November 16.Flipkart, Amazon have excellent iPhone 11, Galaxy S20+ sale offers, but will they have enough stock? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.Affiliate links may be automatically generated – see our ethics statement for details.

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