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  • Khushboo Pareek

Apple posts record revenue from India in latest quarter

In an announcement of its quarterly results, Apple said it has achieved success in several global markets, with India emerging as a standout performer.

During a call with investors following the results disclosure, Apple CEO Tim Cook disclosed that the company achieved revenue records in over a dozen countries and regions, including India.

Cook said that he is "very, very pleased" about how the company is doing in India.

"We did grow a strong double-digit in India and set a new March quarter revenue record for us. As you know as I’ve said before, I see it as an incredibly exciting market and it’s a major focus for us," he told investors.

The company has set a six-month revenue record in India, among other emerging markets.

Apple's chief financial officer Luca Maestri said,  "We were particularly pleased with our strong momentum in emerging markets, as we set first-half revenue records in several countries and regions including Latin America, the Middle East, India, Indonesia, the Philippines, and Turkey."

He said in reference to India, "From a pragmatic point of view, you need to produce there to be competitive."

Maestri also spoke about Apple's efforts to broaden its presence in India, both in terms of expanding its channels and nurturing its developer ecosystem.

In 2023, Apple disclosed its support for over a million developer jobs in India and expressed intentions to further grow its ecosystem, reported Money Control.

Over the past few years, Apple has significantly increased the assembly of iPhones in the sub-continent.

On the retail front, Apple has inaugurated two stores: Apple BKC in Mumbai and Apple Saket in New Delhi.

"We have been very pleased that there is a rapidly-growing base of developers" in India, he said.

"All of the entire ecosystem from developer to the market to operations, the whole thing," Maestri added.

Image Source: Unsplash


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