With Apple pointing the finger at fluctuating currency, poor performance in emerging markets and supply issues, its busiest quarter might not be as busy as investors had hoped.
While CEO Tim Cook has defended the soundness of the supply chain, worries over whether the business can keep up with demand over the final quarter leading into Christmas seem to have spooked investors.
With India now being the second-largest smartphone market in the world, but with half the penetration of China, the opportunities are clear.
Despite attention from Apple, it’s opening new production facilities and shops across the country, according to data from Canalys it is yet to break into the top-five smartphone brands.
The Chinese brands seem to have found the right recipe to appeal to the Indian user, while Apple is still searching for the sweet spot.
Brazil was down somewhat compared to the previous year.