Business
Apple Sees Record Revenue In India And 2-Dozen Other Countries In April-June Quarter
iPhone maker Apple has seen record revenue growth in India and over two dozen countries in the quarter ended on June 30, 2024, its CEO Tim Cook said on Friday.
Apple posted a 7.8 per cent growth in net income to USD 21.44 billion in the June quarter of 2024 compared to USD 19.8 billion in the year-ago period.
The company recorded 4.8 per cent growth in total net sales at USD 85.77 billion during the reported quarter from USD 81.79 billion in the June quarter of 2023 .
“Apple is reporting a new June quarter revenue record of USD 85.8 billion, up 5 per cent from a year ago and better than we had expected. We also set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand,” Apple CEO Tim Cook said during the company’s earning call.
The revenue of Apple from ‘Rest of Asia Pacific’ geography, which includes India, Indonesia, the Philippines, and Thailand, grew by USD 760 million in the June quarter compared to the year-ago period.?
Apple’s iPhone sales declined by about a per cent to USD 39.29 billion during the reported quarter from USD 39.66 billion a year ago.
Apple Mac sales grew 2.4 per cent to over 7 billion from USD 6.8 billion and iPad sales were up 24 per cent to USD 7.16 billion from USD 5.8 billion on a Y-o-Y basis.
“Mac generated USD 7 billion in revenue, up 2 per cent Y-o-Y, driven by the MacBook Air powered by the M3 chip. We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia,” Apple Chief Financial Officer Luca Maestri said.
He said Mac installed base reached an all-time high with half of MacBook Air customers in the quarter being new to Mac.
Apple’s Wearables, Home and Accessories sales declined about 2 per cent to USD 8 billion from USD 8.28 billion a year ago
Business
Railways completes trial run on J&K’s cable-stayed Anji Khad Bridge
New Delhi, Dec 26: Indian Railways has successfully carried out a trial run of a tower wagon on the Anji Khad Bridge, the country’s first cable-stayed rail bridge, located in Jammu and Kashmir’s Reasi district.
The achievement is a major step forward in enhancing railway connectivity in Jammu and Kashmir, with services expected to commence in January 2025.
Railways Minister Ashwini Vaishnaw shared a video of the trial run on the social media platform X, highlighting the progress of the crucial project.
“The trial run on the Anji Khad Bridge, a key component of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project, has been successfully completed,” according to the Ministry of Railways.
Completed last month, the Anji Khad Bridge is an engineering marvel featuring a single pylon that rises 331 metres above the riverbed. It is supported by 48 cables on its lateral and central spans and stretches 473.25 metres in total length. The viaduct measures 120 metres, while the central embankment spans 94.25 metres.
This is the second-highest railway bridge in India after the Chenab Bridge, which is the highest in the world at a record 359 metres above the riverbed. Both bridges are part of the ambitious USBRL project aimed at increasing connectivity in Jammu and Kashmir.
The USBRL project stretches across 272 kilometres, of which 255 kilometres have already been completed. The remaining portion between Katra and Reasi is expected to be completed by the end of this month.
The Udhampur-Srinagar-Baramulla Rail Link (USBRL) is a 272 km railway project that connects Jammu and Kashmir to the rest of India. It is considered one of the most challenging railway projects in the Indian subcontinent.
The project will reduce travel time between Srinagar and Jammu from six hours to 3.5 hours. The railway projects have been constructed after overcoming natural challenges such as extreme temperatures, major earthquake zones, and inhospitable terrain.
Prime Minister Narendra Modi is expected to flag off the Vande Bharat train to provide a fast link for passengers travelling between Kashmir and Delhi in January 2025.
Business
Indian telecom industry’s revenue doubled in 5 years, Bharti Airtel biggest gainer
New Delhi, Dec 25: The revenue of India’s telecom industry increased 8 per cent (quarter-on-quarter) to Rs 674 billion (13 per cent growth year-on-year) in the second quarter of FY25, mainly driven by tariff hikes, according to a new report.
Driven by three rounds of smartphone tariff hikes, India’s quarterly telecom revenue has almost doubled (up 96 per cent) since September 2019, implying 14 per cent five-year industry revenue CAGR, according to the report by Motilal Oswal Financial Services Ltd.
Given the consolidated market structure in the Indian telecom industry, higher data consumption, lower ARPU, and inadequate returns generated by telcos, “we expect tariff hikes to be more frequent. We build in 15 per cent tariff hike in December 2025.”
The telecom industry’s average revenue per unit (ARPU) has almost doubled from Rs 98 in September 2019 to Rs 193 in September 2024, driven by tariff hikes.
However, as a result of sharp tariff hikes, the industry’s subscriber base at 1.15 trillion in September 2024 is lower than September 2019 levels (1.17 trillion).
Among telcos, Bharti Airtel has been the biggest beneficiary of tariff hikes with a 2.2 times increase in implied ARPU, registering a 17 per cent five-year CAGR.
“We believe the significant improvement in the data subs proportion has also been a key driver for Bharti’s industry-leading ARPU,” said the report.
Over the reporting period from 2019-2024, Bharti’s revenue has increased 2.6 times, implying 21 per cent five-year revenue CAGR, with incremental revenue market share significantly higher at 48 per cent.
“With Vi’s (Vodafone Idea) large capex plans, we believe the pace of market share gains may slow down. However, RJio and Bharti are still likely to continue gaining market share at Vi’s expense, in our view,” the report noted.
Business
AI to generate new revenue streams in 2025, innovate business processes: Experts
New Delhi, Dec 25: Enterprises will reimagine business processes and value streams with AI agents in 2025, while taking into consideration the practical and ethical challenges, industry experts have said, adding that it will be the year of small language models, scaled reasoning and business value realisation.
In the coming year, AI agents will generate new revenue streams, innovate business processes across industries, boosting profitability, operational efficiency, and customer experience.
“Humans will increasingly take on roles where they set up agentic teams, plan agentic workflows, and validate work done by AI Agents,” said Sandhya Arun, Chief Technology Officer, Wipro.
According to Mohammed Rafee Tarafdar, CTO of Infosys, in 2025, we will see a lot of AI initiatives that are currently under rollout, to be scaled across enterprises, and businesses will start realising some measurable business value along the lines of cost, growth, better experience, and risk protection.
“We are seeing increased investments in scaling inferencing which improves the reasoning capabilities, thereby enabling the agentic systems to be used to eliminate tasks and re-engineer the processes,” Tarafdar mentioned.
As the small language models become more specialised and can deliver higher accuracy at lower cost, the adoption of these models in enterprises is likely to accelerate.
Prativa Mohapatra, Vice President and Managing Director, Adobe India, said that fuelled by a healthy enterprise business, vibrant creator community, and upcoming technological advancements, 2025 represents a year of extraordinary opportunity.
“We are committed to leading the way in harnessing generative AI’s potential responsibly and empower businesses and creators alike, setting new benchmarks in personalised customer experiences and content creation while upholding trust and transparency through our content authenticity programmes,” she noted.
The idea of software-defined capabilities, which originated with cloud technology, has now evolved across various machines like vehicles and robots.
“In 2025, software defined machines will be powered by AI and ML and make informed decisions. We will witness an increase in autonomous machines with over-the-air (OTA) updates,” added Arun.
Autonomous industrial robots will proliferate, and software-defined medical devices will evolve towards autonomous preventive maintenance and self-healing with minimal human intervention and down time.
Augmented analytics will enable citizen users to gain access to intelligent insights from ready-to-use data visualisations for faster and informed decision making. Data marketplaces will grow across industries and industry ecosystems to unlock new revenue streams, said experts.
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