The press release that I am referring to is Apple’s press release with regards to its financial and operational performance during the fourth quarter of fiscal year 2017.
Summary – The company witnessed a healthy 12% y-o-y (year on year) increase in revenue during the fourth quarter of 2017. The quarter saw successful launch of new products like iPhone 8 and iPhone 8 plus, Apple watch (series 3), and Apple TV (4K). The successful launch of new products spelled operational and financial positives for the company. Apple generated a substantial operating cash flow of $15.7 billion
Issues that Apple is facing – The global market for the products and services being offered by Apple has become highly competitive. Apple has been unable to compete effectively in developing markets of Asia, Russia and Middle East mainly due to the onslaught that it is facing from Chinese competitors. Chinese players like Xioami, Oppo, Vivo, Lenovo etc. are offering mobile handsets and devices that are at par with Apple phones in terms of features and technical specifications. But the Chinese players offer their products at a price that is almost half of that of price at which Apple sells its products. This has led to declining market share of Apple in several developing countries.
How will Apple resolve these issues – Apple will resolve this issue by trying to offer higher perceived value to its buyers. The company will have to ensure a continuous as well as a timely introduction of new products that are highly innovative. Going forward Apple will have to resolve the issue by successfully managing frequent product introductions and transitions. This will help Apple to deal with the volatility of the industry in which it operates in.
In terms of their financial performance Apple is doing well. The company’s revenue grew at 12% for the latest quarter (Q4 2017). Its net income (bottom-line) grew by 18.86% during the same period. Revenue from iPhones grew at a healthy rate of 16%, revenues from Mac grew at a strong rate of 28%, and revenue from services and other products grew at 17% and 18% respectively during Q4 2017 (on a y-o-y) basis.
Link to the press release: https://www.apple.com/in/newsroom/2017/11/apple-reports-fourth-quarter-results/
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