Apple CEO Tim Cook revealed that the company achieved a quarterly revenue milestone in India during the October-December period. This success comes as Apple’s production and exports in India have been consistently increasing. The company also set revenue records in various regions globally, including the Americas, Europe, Japan, and the rest of Asia Pacific, with significant growth in emerging markets like India.
During an earnings call, Cook highlighted the strong double-digit revenue growth in India and emphasized the company’s momentum in emerging markets. Apple’s retail segment also saw remarkable performance, achieving its best-ever results during the quarter. Cook mentioned the opening of a new store in India in December and plans for another store in Mumbai.
Responding to an analyst, Cook confirmed that Apple achieved a quarterly revenue record in India, driven by impressive performances in iPhone, Mac, iPad, and Services. He expressed excitement about the vast opportunities in India, considering it the second-largest smartphone market globally and the fourth largest PC market. Cook noted that a significant portion of customers purchasing Apple products in India are new to the brand, indicating substantial growth potential.
Apple’s CFO, Kevan Parekh, reported that iPhone revenue surged by 23% year-over-year to $85.3 billion, with strong performance across various markets, including India. Despite a 7% decline in Mac revenue, the company witnessed growth in emerging markets like Brazil, India, Malaysia, and Vietnam. The Mac installed base also reached a new high, with a significant number of new customers embracing the product.
