Apple reportedly registered profits as high as 78 per cent from its App Store in 2018 and 2019, an expert witness for Epic Games has testified, as the Cupertino-based tech giant and Fortnite game developer prepare for a legal battle in the US beginning Monday. According to The Verge, expert Ned Barnes testified that information from Apple s Corporate Financial Planning and Analysis group show the App Store had a 77.8 percent operating margin in 2019, and 74.9 percent in 2018 .
Apple has contested that interpretation of the data, saying we don t have a separate profit and loss statement for the App Store . Epic s experts calculations of the operating margins for the App Store are simply wrong and we look forward to refuting them in court, an Apple spokesperson was quoted as saying in the report on Saturday.
After delivering strong March quarter results, Apple has said that the company is very pleased with its growth story in India, as iPhone sales, along with iPads and Macs, continue to rise in the country. According to a latest report by market intelligence firm CMR, Apple shipped over a million iPhones in the country in the first quarter of 2021, growing close to an impressive 90 per cent (on-year) during the three-month period. During the company s earnings call on Wednesday, Luca Maestri, Senior Vice President and Chief Financial Officer, said that working from home, learning from home and limited entertainment options has all played in our favour.
Hong Kong stock market finished session higher on Thursday, 29 April 2021, extending gains from the previous session, on following a dovish outlook from the Federal Reserve and as the U. S. president outlined a fresh $1.8 trillion stimulus plan.
At closing bell, the benchmark Hang Seng Index was up 0.8%, or 231.92 points, to 29,303.26, the highest level since March 18. The Hang Seng China Enterprises Index advanced 0.32%, or 35.19 points, to 11,049.88.
President Joe Biden proposed his sweeping new plan in a speech to a joint session of Congress on Wednesday, including $1 trillion in spending on education and healthcare over 10 years and $800 billion in tax credits aimed at low- and middle-income families.
Samsung Electronics has expanded its presence in the Indian smartphone market in the first quarter of the year on the back of multiple new handsets, a report showed Tuesday, as the South Korean tech giant aims to fend off challenges from Chinese players.
Samsung represented 20 per cent of the smartphone shipments in India in the first quarter, up from 16 per cent a year earlier, according to market researcher Counterpoint Research. Among the top five brands, Samsung posted the highest on-year growth in smartphone shipments in the first quarter. Samsung remains the second-largest brand for India s smartphone shipments with 52 percent on-year growth driven by its focus on the budget segment with the new M02 series and multiple other launches, the market researcher said.