Earlier today Apple announced $75.9 billion revenue in FY 2016. The company even restructured its India business and made some leadership changes, according to a latest report from the Economic Times.
The move comes from Apple as it strives to pave its way into the Indian smartphone market which is driven by budget devices. First up, Apple is merging its product division and splitting the business into two in order to align it with the retail strategy. In case of role changes at the company, the former head of the division of gadgets, Sanjay Kaul, will now lead the general trade vertical that covers retail outlets which sell products of different brands, said the report. In addition, Satya D, who heads the Mac computer division, will lead the large modern retail and e-commerce vertical. A person aware of the development told the publication that these structural changes are aimed to drive efficiencies and will centre the on go-to-market strategy.
Last week, Apple’s long time India head Maneesh Dhir resigned at a crucial time when the company filed a proposal with the department of industrial policy and promotion (DIPP) to open its own branded stores in the country. Just last month, Apple slashed price for the iPhone 5s in India and the phone was available for as low as Rs 24,999. The company has significantly increased its retail presence in the country in the past year with five distributors.