Apple has reportedly partnered with investment bank Goldman Sachs and may introduce a new credit card next year.
According to a report by Wall Street Journal, the move comes as Apple puts increasing focus on revenue from online services and content, and as Goldman Sachs seeks to make more money from consumer banking operations. A joint credit card bearing the Apple Pay brand could launch early next year, and replace a rewards-card partnership Apple has with Barclays.
Analysts praised a big jump in revenues in Apple’s services business, which is seen as an important element of diversification away from having revenues tied to gadgets.
Apple is putting a lot of energy in India with an aim to launch all its initiatives, including retail, in the country where it has an “extremely low” overall market share, the technology giant’s CEO Tim Cook has said.
India, the third largest smartphone market in the world, has huge opportunities for Apple, Cook said.
He said the company is “putting a lot of energy” in India and working with the carriers in that market, and “they’re investing enormously on the LTE (Long-Term Evolution) networks.”
Cook noted that the infrastructure in India has come “quite a ways” since Apple began to put a lot of energy in the Indian market “because of their leadership and so forth.” Apple’s Chief Financial Officer (CFO) Luca Maestri said during the conference call that Apple’s Mac set a new March quarter revenue record, including new records in both the Americas and Greater China.