US tech giant Apple, under the leadership of CEO Tim Cook, achieved record revenue in the March quarter, with double-digit growth in various emerging markets, including India. Cook highlighted the company’s strong performance, stating growth in every geographic segment, particularly in Greater China and the rest of Asia-Pacific.
During an analysts’ call, Cook emphasized Apple’s success in both developed and emerging markets, with significant revenue growth in nearly all tracked emerging markets, including India. He also expressed excitement about the opening of Apple’s sixth store in India, showcasing the company’s commitment to expanding its presence in the country.
Cook acknowledged the vast potential in the Indian market, citing it as the second-largest smartphone market globally and the third-largest PC market. He emphasized the opportunity for growth, especially with the rising middle class in India. Cook expressed optimism about Apple’s product offerings and the increasing customer base in India across various product categories.
Apple’s CFO, Kevan Parekh, highlighted the company’s financial performance, with iPhone revenue reaching $57 billion, a 22% increase year-over-year. The iPhone 17 family drove this growth, with double-digit growth reported in key markets, including the US, Latin America, Greater China, Western Europe, India, Japan, and Southeast Asia.
Mac revenue also saw a positive trend, reaching $8.4 billion, a 6% increase year over year, attributed to the success of recent product launches like the MacBook Neo. Apple experienced growth in both developed and emerging markets, with notable double-digit growth in markets such as India and Indonesia.
In the same period, Apple observed a significant number of new iPad customers, particularly in emerging markets. The company reported double-digit revenue growth for the iPad in markets like India, Mexico, and Thailand, with high customer satisfaction rates. Additionally, the transition to John Ternus as the incoming Apple CEO marked a significant development for the company.
