New York: Acknowledging that Apple is “under-penetrated” in India, CEO Tim Cook has said the US tech company is strengthening its local presence in the country and is optimistic about its future given the fast-growing economy and improving 4G network infrastructure in the country. Cook sounded a bullish tone for the future of Apple in India as the 4G network infrastructure grows in the country. Apple posted revenue of $52.9 billion for its fiscal 2017 second quarter ended April 1, 2017, up from $50.6 billion in the year-ago quarter. It reported net income of $11 billion for the second quarter as compared to $10 billion a year ago. It sold 50.76 million iPhones in its fiscal second quarter ended 1 April, down from 51.19 million a year earlier.

Source: Mint May 03, 2017 04:41 UTC